American Trust Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

American Trust cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.8% in the second quarter, HoldingsChannel.com reports. The fund owned 6,355 shares of the network equipment provider’s stock after selling 1,019 shares during the period. American Trust’s holdings in Cisco Systems were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares in the last quarter. Baker Boyer National Bank increased its holdings in shares of Cisco Systems by 2.6% during the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after acquiring an additional 210 shares during the last quarter. Holland Advisory Services Inc. raised its stake in shares of Cisco Systems by 5.3% in the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after acquiring an additional 213 shares in the last quarter. WealthPLAN Partners LLC lifted its holdings in Cisco Systems by 3.0% in the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares during the last quarter. Finally, Ruedi Wealth Management Inc. grew its holdings in Cisco Systems by 17.6% during the first quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock valued at $73,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Rosenblatt Securities raised 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. JPMorgan Chase & Co. raised their price target on Cisco Systems from $53.00 to $55.00 and gave the company 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. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.00.

Cisco Systems Price Performance

Shares of CSCO stock opened at $52.62 on Thursday. The stock’s fifty day simple moving average is $49.38 and its 200 day simple moving average is $48.22. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The firm has a market cap of $212.00 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 4.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

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

Cisco Systems Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was 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 in the company, valued at $33,794,278.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Charles Robbins sold 27,143 shares of the business’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 transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by insiders.

Cisco Systems Company 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.