Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.4% in the second quarter, HoldingsChannel reports. The firm owned 264,647 shares of the network equipment provider’s stock after purchasing an additional 51,924 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Cisco Systems were worth $12,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. One Capital Management LLC increased its holdings in shares of Cisco Systems by 18.7% in the 2nd quarter. One Capital Management LLC now owns 179,844 shares of the network equipment provider’s stock worth $8,544,000 after acquiring an additional 28,284 shares during the period. Sierra Summit Advisors LLC raised its holdings in shares of Cisco Systems by 7.3% during the second quarter. Sierra Summit Advisors LLC now owns 22,721 shares of the network equipment provider’s stock valued at $1,079,000 after buying an additional 1,541 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Keene & Associates Inc. grew its holdings in Cisco Systems by 2.3% in the 2nd quarter. Keene & Associates Inc. now owns 72,812 shares of the network equipment provider’s stock worth $3,459,000 after buying an additional 1,629 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Cisco Systems by 19.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 121,055 shares of the network equipment provider’s stock valued at $5,751,000 after acquiring an additional 19,338 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CSCO shares. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Rosenblatt Securities upped their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $55.89.

Insider Transactions at Cisco Systems

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 transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $49.80 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $56.47. The firm’s 50 day simple moving average is $48.05 and its 200-day simple moving average is $47.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market cap of $200.63 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The firm had revenue of $13.64 billion for 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 company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.21%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

About Cisco Systems

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.