Clearstead Trust LLC Decreases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Clearstead Trust LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,725 shares of the network equipment provider’s stock after selling 3,058 shares during the quarter. Clearstead Trust LLC’s holdings in Cisco Systems were worth $1,175,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after acquiring an additional 2,663,676 shares in the last quarter. Marcum Wealth LLC increased its stake in Cisco Systems by 4.0% in the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after purchasing an additional 943 shares during the last quarter. Inscription Capital LLC increased its stake in Cisco Systems by 49.4% in the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $117,000. Finally, Valmark Advisers Inc. increased its stake in Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after purchasing an additional 1,820 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 2.5 %

Shares of CSCO opened at $51.03 on Tuesday. The company has a market capitalization of $205.59 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a 50-day moving average price of $48.15 and a 200 day moving average price of $47.98.

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, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CSCO shares. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price target 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. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.89.

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.