Cullen Frost Bankers Inc. Sells 8,602 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cullen Frost Bankers Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,445 shares of the network equipment provider’s stock after selling 8,602 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cisco Systems were worth $24,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in Cisco Systems by 0.3% in the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after acquiring an additional 202 shares in the last quarter. Baker Boyer National Bank raised its stake in shares of Cisco Systems by 2.6% during the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares in the last quarter. Holland Advisory Services Inc. raised its stake in shares of Cisco Systems by 5.3% during the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares in the last quarter. WealthPLAN Partners LLC raised its stake in shares of Cisco Systems by 3.0% during the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares in the last quarter. Finally, Ruedi Wealth Management Inc. raised its stake in shares of Cisco Systems by 17.6% during the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.63 on Friday, hitting $48.50. 21,040,496 shares of the company’s stock were exchanged, compared to its average volume of 19,646,146. The company has a 50 day moving average of $47.84 and a 200 day moving average of $47.94. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.09. The stock has a market cap of $195.40 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 3.98 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 (NASDAQ:CSCO) last announced 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. 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 analyst estimates of $13.53 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CSCO shares. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on 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. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $55.89.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is owned by corporate insiders.

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.