Meadow Creek Wealth Advisors LLC Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Meadow Creek Wealth Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,949 shares of the network equipment provider’s stock after selling 435 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Cisco Systems were worth $849,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Elevated Capital Advisors LLC purchased a new position in Cisco Systems during the 3rd quarter worth approximately $387,000. Weaver Capital Management LLC raised its position in Cisco Systems by 13.1% during the 3rd quarter. Weaver Capital Management LLC now owns 43,115 shares of the network equipment provider’s stock worth $2,295,000 after buying an additional 4,990 shares during the last quarter. Community Trust & Investment Co. purchased a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $334,000. Tempus Wealth Planning LLC increased its holdings in shares of Cisco Systems by 8.2% during the 3rd quarter. Tempus Wealth Planning LLC now owns 20,918 shares of the network equipment provider’s stock valued at $1,113,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in shares of Cisco Systems by 3.4% during the 3rd quarter. Stanley Laman Group Ltd. now owns 9,695 shares of the network equipment provider’s stock valued at $516,000 after purchasing an additional 323 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent research reports. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group cut 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. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a 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, Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.74.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 27,143 shares of the business’s 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 directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. 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 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by insiders.

Cisco Systems Trading Down 0.3 %

Shares of CSCO opened at $56.42 on Wednesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $51.63 and its two-hundred day moving average is $48.71. The stock has a market cap of $227.31 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced 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. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. Research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. 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 payout ratio is 53.87%.

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.