Cardinal Capital Management Has $8.15 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cardinal Capital Management lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,066 shares of the network equipment provider’s stock after purchasing an additional 2,137 shares during the quarter. Cisco Systems accounts for 1.3% of Cardinal Capital Management’s holdings, making the stock its 26th biggest holding. Cardinal Capital Management’s holdings in Cisco Systems were worth $8,146,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter valued at about $25,000. Quarry LP boosted its position 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 in the last quarter. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% in the third 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 last quarter. Retirement Group LLC raised its position in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter worth $36,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.0 %

Cisco Systems stock opened at $56.40 on Friday. The firm has a market cap of $227.23 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a 50 day moving average price of $50.95 and a two-hundred day moving average price of $48.56.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) 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 business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CSCO shares. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.74.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Profile

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.