Busey Bank Sells 1,761 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Busey Bank lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 177,503 shares of the network equipment provider’s stock after selling 1,761 shares during the quarter. Busey Bank’s holdings in Cisco Systems were worth $9,447,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Swedbank AB acquired a new position in shares of Cisco Systems in the first quarter valued at approximately $840,538,000. Dimensional Fund Advisors LP increased its position in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Natixis lifted its holdings in shares of Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after buying an additional 4,010,228 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares during the period. Finally, Capitolis Liquid Global Markets LLC grew its stake in shares of Cisco Systems by 318.4% in the first quarter. Capitolis Liquid Global Markets LLC now owns 3,782,100 shares of the network equipment provider’s stock valued at $188,765,000 after acquiring an additional 2,878,100 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Charles Robbins sold 27,143 shares of the business’s 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 transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was 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 hyperlink. Also, 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 transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last three months. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $55.96 on Friday. The stock has a 50-day moving average price of $51.85 and a two-hundred day moving average price of $48.77. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The company has a market capitalization of $225.45 billion, a PE ratio of 18.84, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the business earned $1.01 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. Cisco Systems’s dividend payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CSCO shares. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Rosenblatt Securities raised their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.74.

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.