Bank Hapoalim BM Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Bank Hapoalim BM cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,957 shares of the network equipment provider’s stock after selling 3,384 shares during the period. Bank Hapoalim BM’s holdings in Cisco Systems were worth $5,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP grew its stake in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Swedbank AB bought a new stake in Cisco Systems during the 1st quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.74.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the company’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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 0.8 %

Shares of NASDAQ CSCO opened at $55.12 on Thursday. The stock has a market cap of $219.97 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. 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 1 year low of $44.50 and a 1 year high of $57.06. The firm has a 50-day moving average of $52.44 and a 200 day moving average of $49.00.

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 analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 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.