Core Alternative Capital Has $3.58 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Core Alternative Capital reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 57.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,444 shares of the network equipment provider’s stock after selling 100,297 shares during the quarter. Core Alternative Capital’s holdings in Cisco Systems were worth $3,584,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CSCO. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Cisco Systems by 1,096.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Marcum Wealth LLC increased its position in Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after acquiring an additional 943 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the last quarter. Finally, Inscription Capital LLC lifted its position in shares of Cisco Systems by 49.4% during the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after purchasing an additional 15,198 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. raised 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. Evercore ISI boosted 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. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Stock Up 0.3 %

Shares of Cisco Systems stock opened at $53.02 on Monday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58. 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 business’s 50 day simple moving average is $49.01 and its 200 day simple moving average is $48.14. The firm has a market cap of $213.61 billion, a PE ratio of 17.85, a P/E/G ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Cisco Systems Company 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.