Strategic Blueprint LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 17.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 21,393 shares of the network equipment provider’s stock after selling 4,441 shares during the period. Strategic Blueprint LLC’s holdings in Cisco Systems were worth $1,139,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Swedbank AB purchased a new position in shares of Cisco Systems in the 1st quarter valued at about $840,538,000. Dimensional Fund Advisors LP increased its stake in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after purchasing an additional 4,842,542 shares in the last quarter. Natixis increased its stake in shares of Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Analyst Upgrades and Downgrades
CSCO has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Tigress Financial boosted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Barclays cut their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.74.
Cisco Systems Trading Down 0.2 %
CSCO opened at $55.59 on Thursday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06. The stock has a market capitalization of $221.84 billion, a PE ratio of 21.89, a P/E/G ratio of 4.22 and a beta of 0.83. The business’s 50 day moving average price is $52.44 and its 200 day moving average price is $49.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, 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 $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s 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 sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. 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 over the last quarter. 0.01% of the stock is owned by company 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.
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