Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mount Vernon Associates Inc. MD

Mount Vernon Associates Inc. MD lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,755 shares of the network equipment provider’s stock after selling 1,968 shares during the period. Cisco Systems comprises approximately 1.7% of Mount Vernon Associates Inc. MD’s holdings, making the stock its 17th largest position. Mount Vernon Associates Inc. MD’s holdings in Cisco Systems were worth $1,889,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $2,528,939,000. Swedbank AB acquired a new stake in shares of Cisco Systems during the 1st quarter valued at approximately $840,538,000. Charles Schwab Investment Management Inc. lifted its position in shares of Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. FIL Ltd lifted its position in shares of Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after acquiring an additional 6,054,748 shares during the period. Finally, Natixis lifted its position in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after acquiring an additional 4,010,228 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSCO. JPMorgan Chase & Co. raised their price objective on shares of 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 dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday. One equities 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.89.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,090 shares of company stock worth $1,522,231. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 1.9 %

Shares of Cisco Systems stock traded up $0.93 during trading on Friday, reaching $49.46. The company had a trading volume of 27,424,886 shares, compared to its average volume of 19,935,170. The company has a market cap of $199.27 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The firm’s fifty day moving average is $46.74 and its 200-day moving average is $47.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.