Daymark Wealth Partners LLC Acquires 16,830 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Daymark Wealth Partners LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 404,090 shares of the network equipment provider’s stock after purchasing an additional 16,830 shares during the period. Daymark Wealth Partners LLC’s holdings in Cisco Systems were worth $19,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its holdings in Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after buying an additional 202 shares during the period. Baker Boyer National Bank grew its stake in Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares during the period. Holland Advisory Services Inc. increased its holdings in Cisco Systems by 5.3% in the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares in the last quarter. WealthPLAN Partners LLC lifted its stake in Cisco Systems by 3.0% in the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after buying an additional 213 shares during the period. Finally, Ruedi Wealth Management Inc. grew its position in shares of Cisco Systems by 17.6% during the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after buying an additional 218 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.2 %

Shares of Cisco Systems stock opened at $52.65 on Thursday. 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 fifty day moving average of $48.72 and a 200 day moving average of $48.08. The company has a market capitalization of $210.11 billion, a P/E ratio of 17.73, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the 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 sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSCO. Jefferies Financial Group cut their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $53.00 to $55.00 and gave the company 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, Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

About Cisco Systems

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.