Community Trust & Investment Co. Acquires Shares of 6,268 Cisco Systems, Inc. (NASDAQ:CSCO)

Community Trust & Investment Co. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,268 shares of the network equipment provider’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in shares of Cisco Systems during the 1st quarter worth approximately $840,538,000. Dimensional Fund Advisors LP grew its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Natixis grew its position in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after buying an additional 4,010,228 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Cisco Systems by 26.5% during 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 buying an additional 2,906,357 shares during the period. Finally, Capitolis Liquid Global Markets LLC grew its position in shares of Cisco Systems by 318.4% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 3,782,100 shares of the network equipment provider’s stock worth $188,765,000 after buying an additional 2,878,100 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $56.60 on Wednesday. The company has a market cap of $228.03 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The company’s fifty day simple moving average is $51.63 and its 200 day simple moving average is $48.71. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share 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 the consensus estimate 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 period in the previous year, the company earned $1.01 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed 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 of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were 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 $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective 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. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.74.

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.