Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,642 shares of the network equipment provider’s stock after selling 2,502 shares during the quarter. Cisco Systems accounts for 0.8% of Profund Advisors LLC’s portfolio, making the stock its 19th largest position. Profund Advisors LLC’s holdings in Cisco Systems were worth $21,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mcintyre Freedman & Flynn Investment Advisers Inc. raised its holdings in Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after acquiring an additional 202 shares in the last quarter. Baker Boyer National Bank raised its stake in shares of Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares in the last quarter. Holland Advisory Services Inc. lifted its position in shares of Cisco Systems by 5.3% during the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares during the last quarter. WealthPLAN Partners LLC grew its stake in Cisco Systems by 3.0% in the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares in the last quarter. Finally, Ruedi Wealth Management Inc. increased its holdings in Cisco Systems by 17.6% in the first quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock valued at $73,000 after buying an additional 218 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

CSCO stock opened at $51.97 on Friday. The company has a market capitalization of $209.38 billion, a P/E ratio of 17.50, a PEG ratio of 3.87 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. The company has a 50-day simple moving average of $48.52 and a 200 day simple moving average of $48.05. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders 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 annualized dividend and a dividend yield of 3.08%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

A number of research analysts have commented on CSCO shares. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research 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. Finally, Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.11.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. 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 90 days. 0.02% of the stock is currently owned by corporate insiders.

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.