Lake Street Private Wealth LLC Has $654,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Lake Street Private Wealth LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 40.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,285 shares of the network equipment provider’s stock after selling 8,331 shares during the period. Lake Street Private Wealth LLC’s holdings in Cisco Systems were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP lifted its holdings 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 purchasing an additional 309 shares during the last quarter. 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 worth $36,000 after purchasing an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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. 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 three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

CSCO stock traded down $0.27 during midday trading on Wednesday, reaching $56.33. 3,175,489 shares of the stock were exchanged, compared to its average volume of 19,055,977. The stock has a market capitalization of $226.94 billion, a PE ratio of 19.06, a P/E/G ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a fifty day moving average price of $51.63 and a 200 day moving average price of $48.71.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for 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%. Cisco Systems’s quarterly 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. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. New Street Research raised 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. JPMorgan Chase & Co. lifted their price objective on 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. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.74.

View Our Latest Research Report on Cisco Systems

Cisco Systems Profile

(Free Report)

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.

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