Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Park National Corp OH

Park National Corp OH decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,025,531 shares of the network equipment provider’s stock after selling 74,867 shares during the quarter. Cisco Systems makes up approximately 1.9% of Park National Corp OH’s holdings, making the stock its 9th largest position. Park National Corp OH’s holdings in Cisco Systems were worth $54,579,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSCO. Centaurus Financial Inc. raised its stake in shares of Cisco Systems by 98.6% during the 2nd quarter. Centaurus Financial Inc. now owns 34,247 shares of the network equipment provider’s stock worth $1,627,000 after purchasing an additional 17,000 shares in the last quarter. Clifford Capital Partners LLC increased its stake in shares of Cisco Systems by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 245,953 shares of the network equipment provider’s stock worth $11,685,000 after purchasing an additional 43,311 shares during the last quarter. Verity & Verity LLC lifted its position in shares of Cisco Systems by 5.1% in the second quarter. Verity & Verity LLC now owns 328,666 shares of the network equipment provider’s stock worth $15,615,000 after buying an additional 15,848 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Cisco Systems by 25.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 6,617 shares of the network equipment provider’s stock valued at $314,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Brightwater Advisory LLC acquired a new stake in Cisco Systems in the 2nd quarter worth approximately $245,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $52.62 on Thursday. The stock has a market capitalization of $212.00 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The firm has a 50 day moving average of $49.38 and a 200-day moving average of $48.22.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping 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 company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last three months. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their target price 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

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.