Matrix Trust Co Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Matrix Trust Co cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 96.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the network equipment provider’s stock after selling 21,286 shares during the period. Matrix Trust Co’s holdings in Cisco Systems were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Cisco Systems by 1,096.2% during 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 buying an additional 2,663,676 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the period. Marcum Wealth LLC raised its stake in shares of Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after acquiring an additional 943 shares during the period. Citizens Financial Group Inc. RI increased its stake in Cisco Systems by 24.4% during 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 buying an additional 51,924 shares during the period. Finally, Inscription Capital LLC increased its stake in shares of Cisco Systems by 49.4% during the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after buying an additional 15,198 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s 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 of the company’s stock, valued at approximately $6,501,957.20. The trade was 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 ninety days. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.00.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.01 during midday trading on Thursday, reaching $53.57. 2,559,347 shares of the stock were exchanged, compared to its average volume of 19,159,436. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. 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 stock’s 50 day simple moving average is $49.87 and its 200 day simple moving average is $48.34. The company has a market cap of $215.82 billion, a P/E ratio of 18.03, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results 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. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, sell-side 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 will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

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.