Founders Financial Alliance LLC Sells 1,994 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Founders Financial Alliance LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,227 shares of the network equipment provider’s stock after selling 1,994 shares during the period. Founders Financial Alliance LLC’s holdings in Cisco Systems were worth $1,151,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CSCO. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after acquiring an additional 288,775 shares during the last quarter. Marcum Wealth LLC grew its position in shares of Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after purchasing an additional 943 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the last quarter. Finally, Inscription Capital LLC raised its stake in Cisco Systems by 49.4% during the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CSCO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on 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, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Trading Up 0.4 %

NASDAQ:CSCO opened at $53.22 on Tuesday. The firm has a market capitalization of $214.41 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The business’s 50-day moving average is $49.14 and its two-hundred day moving average is $48.16. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. 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 (NASDAQ:CSCO) last announced 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. 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 last year, the business earned $1.01 EPS. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity

In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

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.