Park Avenue Securities LLC Sells 33,939 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Park Avenue Securities LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 18.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,842 shares of the network equipment provider’s stock after selling 33,939 shares during the quarter. Park Avenue Securities LLC’s holdings in Cisco Systems were worth $7,921,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Johnson & White Wealth Management LLC increased its holdings in Cisco Systems by 11.5% in the third quarter. Johnson & White Wealth Management LLC now owns 13,762 shares of the network equipment provider’s stock valued at $732,000 after purchasing an additional 1,424 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in Cisco Systems by 2.4% in the third quarter. Canandaigua National Bank & Trust Co. now owns 110,346 shares of the network equipment provider’s stock valued at $5,873,000 after purchasing an additional 2,586 shares during the last quarter. Farmers Trust Co. increased its holdings in Cisco Systems by 1.6% in the third quarter. Farmers Trust Co. now owns 177,147 shares of the network equipment provider’s stock valued at $9,428,000 after purchasing an additional 2,737 shares during the last quarter. Czech National Bank increased its holdings in Cisco Systems by 6.4% in the third quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after purchasing an additional 49,100 shares during the last quarter. Finally, JLB & Associates Inc. increased its holdings in Cisco Systems by 4.0% in the third quarter. JLB & Associates Inc. now owns 34,714 shares of the network equipment provider’s stock valued at $1,847,000 after purchasing an additional 1,348 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. New Street Research raised 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. boosted 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. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Barclays decreased their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.00.

Cisco Systems Stock Up 0.6 %

CSCO traded up $0.32 on Friday, hitting $52.75. 11,728,606 shares of the company were exchanged, compared to its average volume of 19,368,709. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. The company has a market cap of $212.52 billion, a PE ratio of 17.76, a PEG ratio of 4.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock’s fifty day moving average is $49.58 and its 200-day moving average is $48.28.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (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 for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. Equities research analysts predict 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. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.03%. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. Company insiders own 0.02% of the company’s stock.

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.