Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 534,100 shares of the network equipment provider’s stock after selling 15,000 shares during the period. Cisco Systems makes up 0.5% of Louisiana State Employees Retirement System’s holdings, making the stock its 22nd largest position. Louisiana State Employees Retirement System’s holdings in Cisco Systems were worth $28,425,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CSCO. Allworth Financial LP boosted its position in Cisco Systems by 0.4% during the third quarter. Allworth Financial LP now owns 465,314 shares of the network equipment provider’s stock worth $24,764,000 after purchasing an additional 1,653 shares in the last quarter. CWC Advisors LLC. acquired a new position in shares of Cisco Systems during the third quarter valued at approximately $558,000. Signet Investment Advisory Group Inc. raised its holdings in shares of Cisco Systems by 2.4% during the third quarter. Signet Investment Advisory Group Inc. now owns 76,982 shares of the network equipment provider’s stock valued at $4,097,000 after acquiring an additional 1,777 shares during the last quarter. Burford Brothers Inc. acquired a new position in shares of Cisco Systems during the third quarter valued at approximately $211,000. Finally, Legacy Wealth Asset Management LLC raised its holdings in shares of Cisco Systems by 1.4% during the third quarter. Legacy Wealth Asset Management LLC now owns 39,028 shares of the network equipment provider’s stock valued at $2,077,000 after acquiring an additional 556 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSCO. Jefferies Financial Group reduced their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target 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. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Trading Down 0.4 %

CSCO opened at $55.74 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The business has a fifty day simple moving average of $52.12 and a 200-day simple moving average of $48.87. The firm has a market cap of $224.57 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

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, 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 business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business posted $1.01 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.02% of the company’s stock.

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.