Watts Gwilliam & Co. LLC Invests $1.04 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

11 Oct 2024, 22:16 by Scott Moore · The Cerbat Gem

Watts Gwilliam & Co. LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 19,751 shares of the network equipment provider’s stock, valued at approximately $1,041,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the second quarter worth approximately $25,000. Quarry LP boosted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $53.54 on Friday. The stock has a 50 day moving average price of $49.99 and a 200-day moving average price of $48.37. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The stock has a market cap of $213.66 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Equities analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Analysts Set New Price Targets

Several research firms have issued reports on CSCO. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Check Out Our Latest Report on CSCO

Cisco Systems Profile

(Free Report)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.