TruWealth Advisors LLC Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

TruWealth Advisors LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,745 shares of the network equipment provider’s stock after buying an additional 8,389 shares during the period. Cisco Systems comprises approximately 1.4% of TruWealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. TruWealth Advisors LLC’s holdings in Cisco Systems were worth $22,605,000 at the end of the most recent quarter.

Other hedge funds have 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 $25,000. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Retirement Group LLC lifted its holdings in 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 buying an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter valued at about $36,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.0 %

Shares of CSCO stock opened at $56.40 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.58. The stock has a 50 day moving average of $50.95 and a 200 day moving average of $48.56. The stock has a market cap of $227.23 billion, a P/E ratio of 18.99, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its 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. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research note 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. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. Finally, Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.74.

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.