Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,179 shares of the network equipment provider’s stock after selling 26,159 shares during the quarter. Impax Asset Management Group plc’s holdings in Cisco Systems were worth $9,749,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Cisco Systems by 32.0% during the 1st quarter. Larson Financial Group LLC now owns 7,510 shares of the network equipment provider’s stock worth $375,000 after buying an additional 1,822 shares during the last quarter. SPC Financial Inc. boosted its position in shares of Cisco Systems by 3.6% during the 1st quarter. SPC Financial Inc. now owns 58,873 shares of the network equipment provider’s stock worth $2,938,000 after acquiring an additional 2,029 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Cisco Systems by 13.7% in the 1st quarter. Hemington Wealth Management now owns 6,346 shares of the network equipment provider’s stock valued at $317,000 after acquiring an additional 764 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in shares of Cisco Systems by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 840,027 shares of the network equipment provider’s stock worth $41,926,000 after acquiring an additional 3,646 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred 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 approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,342,221.35. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CSCO. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. 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. Barclays cut their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, 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 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. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Up 0.6 %

CSCO stock opened at $56.16 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The firm has a market capitalization of $224.12 billion, a PE ratio of 22.11, a P/E/G ratio of 4.60 and a beta of 0.83. The company’s 50 day simple moving average is $52.84 and its 200-day simple moving average is $49.21.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the business posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.85%. Cisco Systems’s dividend payout ratio is currently 62.99%.

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.