Avidian Wealth Enterprises LLC Has $1.32 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Avidian Wealth Enterprises LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,747 shares of the network equipment provider’s stock after selling 376 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Cisco Systems were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the second quarter valued at $25,000. Quarry LP raised its position in 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 purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% during 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. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at $14,659,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 3.0 %

Shares of CSCO stock opened at $57.87 on Thursday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.08. The company has a 50-day simple moving average of $53.00 and a two-hundred day simple moving average of $49.27. 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 company has a market capitalization of $230.94 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company posted $1.01 earnings per share. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays cut their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. 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 report on Friday, September 20th. JPMorgan Chase & Co. boosted 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. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Company 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.