Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lessened by L & S Advisors Inc

L & S Advisors Inc decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,171 shares of the network equipment provider’s stock after selling 796 shares during the period. L & S Advisors Inc’s holdings in Cisco Systems were worth $2,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Wellington Management Group LLP grew its position in Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cisco Systems by 22.5% in the second 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 buying an additional 4,843,146 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after acquiring an additional 2,723,260 shares during the last quarter. Finally, FIL Ltd boosted its stake 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 worth $955,961,000 after acquiring an additional 6,054,748 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Cisco Systems news, 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 transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price target 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. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Cisco Systems stock opened at $51.03 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.28. 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 stock has a fifty day moving average price of $48.15 and a two-hundred day moving average price of $47.98. The firm has a market capitalization of $205.59 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 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.