Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Union Savings Bank

Union Savings Bank reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,566 shares of the network equipment provider’s stock after selling 494 shares during the quarter. Union Savings Bank’s holdings in Cisco Systems were worth $502,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $25,000. Delos Wealth Advisors LLC lifted its stake in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 600 shares during the period. Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $36,000. Finally, Tidemark LLC purchased a new position in Cisco Systems during the fourth quarter worth about $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.3 %

Shares of CSCO opened at $50.54 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.19. The company has a market capitalization of $203.62 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.98 and a beta of 0.85. The stock has a fifty day moving average of $47.62 and a two-hundred day moving average of $47.89. 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) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. 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 3.17%. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,944 shares of company stock valued at $3,566,120. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Jefferies Financial Group lowered their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped 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 equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.89.

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.