Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 84.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,716 shares of the network equipment provider’s stock after selling 9,681 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cisco Systems were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after buying an additional 1,853,598 shares in the last quarter. Norges Bank acquired a new position in Cisco Systems in the 4th quarter worth $2,528,939,000. Wellington Management Group LLP lifted its holdings in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares in the last quarter. First Trust Advisors LP lifted its holdings in Cisco Systems by 12.3% in the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares in the last quarter. Finally, FIL Ltd lifted its holdings in Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction that occurred 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 directly owns 293,184 shares of the company’s stock, valued at $14,659,200. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a 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 company a “neutral” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note 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, Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Price Performance

NASDAQ CSCO opened at $49.80 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.47. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a market cap of $200.63 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The company has a 50-day moving average price of $48.05 and a two-hundred day moving average price of $47.96.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results 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 company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. Analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 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.