FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 444 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,173 shares of the network equipment provider’s stock after acquiring an additional 444 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Cisco Systems were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Cisco Systems by 2.7% in the 2nd 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 buying an additional 1,853,598 shares during the period. Norges Bank bought a new position in Cisco Systems in the 4th quarter worth $2,528,939,000. Wellington Management Group LLP boosted its holdings in Cisco Systems by 7.6% in the 4th 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 period. First Trust Advisors LP boosted its holdings in Cisco Systems by 12.3% in the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares during the period. Finally, FIL Ltd boosted its holdings in Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $48.70 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $56.97. The firm has a market capitalization of $196.20 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83. The company’s 50-day moving average is $47.87 and its 200 day moving average is $47.93.

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 analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Research 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. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.29%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold 71,944 shares of company stock worth $3,566,120 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted 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. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. Oppenheimer boosted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.89.

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.