Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lifted by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,827 shares of the network equipment provider’s stock after purchasing an additional 29,129 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Cisco Systems were worth $36,234,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in shares of Cisco Systems by 19.1% during the 1st quarter. AdvisorNet Financial Inc now owns 16,034 shares of the network equipment provider’s stock valued at $800,000 after purchasing an additional 2,577 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Cisco Systems in the first quarter worth approximately $3,344,000. CGN Advisors LLC increased its holdings in shares of Cisco Systems by 5.2% in the first quarter. CGN Advisors LLC now owns 62,176 shares of the network equipment provider’s stock valued at $3,103,000 after buying an additional 3,083 shares in the last quarter. Strategic Planning Group LLC lifted its position in shares of Cisco Systems by 23.5% during the 1st quarter. Strategic Planning Group LLC now owns 77,098 shares of the network equipment provider’s stock valued at $3,848,000 after acquiring an additional 14,669 shares during the last quarter. Finally, Austin Private Wealth LLC boosted its stake in shares of Cisco Systems by 6.1% during the 1st quarter. Austin Private Wealth LLC now owns 7,657 shares of the network equipment provider’s stock worth $373,000 after acquiring an additional 440 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CSCO. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Evercore ISI lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Barclays decreased their price objective on shares of 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. JPMorgan Chase & Co. increased their target price 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. Finally, Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.74.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This 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 valued at $3,509,049. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ:CSCO traded up $0.08 on Monday, reaching $56.84. The company had a trading volume of 4,209,105 shares, compared to its average volume of 19,111,051. 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 has a market capitalization of $229.00 billion, a P/E ratio of 19.11, a P/E/G ratio of 4.22 and a beta of 0.83. The stock has a 50-day moving average price of $51.17 and a 200 day moving average price of $48.60. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.