Gleason Group Inc. Acquires 193 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Gleason Group Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,683 shares of the network equipment provider’s stock after purchasing an additional 193 shares during the period. Gleason Group Inc.’s holdings in Cisco Systems were worth $1,207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Retirement Group LLC boosted its stake in Cisco Systems by 56.8% in 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 period. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth about $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $1,342,221.35. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. 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 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $55.60 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $55.67. The firm has a market capitalization of $224.00 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 4.22 and a beta of 0.83. The stock’s 50 day moving average price is $50.51 and its two-hundred day moving average price is $48.45. 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 (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating 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 analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors 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 dividend yield of 2.88%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research reports. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Evercore ISI boosted 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. Finally, Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, thirteen have issued 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 a consensus price target of $56.74.

Read Our Latest Report on Cisco Systems

Cisco Systems Company 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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