ProShare Advisors LLC Sells 442,369 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

ProShare Advisors LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,502,824 shares of the network equipment provider’s stock after selling 442,369 shares during the period. ProShare Advisors LLC owned 0.11% of Cisco Systems worth $213,929,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. Marcum Wealth LLC grew its holdings in Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after acquiring an additional 943 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the period. Inscription Capital LLC grew its holdings in Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after acquiring an additional 15,198 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Cisco Systems during the 4th quarter worth about $117,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $51.97 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58. The stock has a market cap of $209.38 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 3.87 and a beta of 0.83. 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 firm’s 50-day simple moving average is $48.52 and its 200 day simple moving average is $48.05.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on 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. Finally, Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.11.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction that occurred on 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 approximately $8,181,307.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

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.