Duff & Phelps Investment Management Co. Sells 37,438 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Duff & Phelps Investment Management Co. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 80.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,326 shares of the network equipment provider’s stock after selling 37,438 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Cisco Systems were worth $443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter valued at approximately $25,000. Retirement Group LLC raised its holdings in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the 2nd quarter worth $36,000. Redmont Wealth Advisors LLC acquired a new stake in Cisco Systems in the first quarter valued at about $41,000. Finally, Frank Rimerman Advisors LLC bought a new position in Cisco Systems in the fourth quarter valued at about $44,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Barclays lowered their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last ninety days. 0.02% of the stock is currently owned by insiders.

Cisco Systems Stock Up 0.3 %

CSCO stock opened at $53.02 on Monday. The firm has a market capitalization of $213.61 billion, a PE ratio of 17.85, a P/E/G ratio of 4.11 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 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 $54.58. The stock’s 50 day moving average is $49.01 and its 200-day moving average is $48.14.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS 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 paid 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 3.02%. Cisco Systems’s dividend payout ratio (DPR) is presently 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.