Hudock Inc. Has $1.39 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Hudock Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,184 shares of the network equipment provider’s stock after selling 868 shares during the quarter. Hudock Inc.’s holdings in Cisco Systems were worth $1,387,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $2,528,939,000. Swedbank AB bought a new position in Cisco Systems in the first quarter valued at $840,538,000. FIL Ltd increased its stake in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after acquiring an additional 6,054,748 shares during the last quarter. Natixis boosted its position in Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after buying an additional 4,010,228 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Cisco Systems by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after buying an additional 3,989,543 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. 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 8,270 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,944 shares of company stock valued at $3,566,120. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. Piper Sandler reissued a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note 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 on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of 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, Oppenheimer lifted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Stock Down 1.1 %

NASDAQ:CSCO traded down $0.57 on Thursday, reaching $49.13. The stock had a trading volume of 5,528,785 shares, compared to its average volume of 19,574,955. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $47.79 and a 200 day moving average of $47.93. The stock has a market cap of $197.94 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 3.98 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.47.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. On average, research analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is 53.87%.

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.