Invesco LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Invesco LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,076 shares of the network equipment provider’s stock after selling 237 shares during the period. Invesco LLC’s holdings in Cisco Systems were worth $1,547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. Waypoint Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares during the period. Meridian Financial Partners LLC raised its stake in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares during the period. Gleason Group Inc. raised its stake in shares of Cisco Systems by 0.9% in the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after acquiring an additional 193 shares during the period. Finally, Cassia Capital Partners LLC raised its stake in shares of Cisco Systems by 1.5% in the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock valued at $696,000 after acquiring an additional 195 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The shares were 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 in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.73 during trading hours on Friday, hitting $55.50. 19,235,612 shares of the company traded hands, compared to its average volume of 19,047,523. The stock has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.61 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The firm has a 50-day moving average of $52.63 and a 200 day moving average of $49.09. 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 released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the company earned $1.01 EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is 62.99%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CSCO shares. Jefferies Financial Group cut their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Barclays dropped their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of 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, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $56.74.

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.