Sarasin & Partners LLP Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sarasin & Partners LLP trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,925,102 shares of the network equipment provider's stock after selling 891,388 shares during the quarter. Cisco Systems accounts for approximately 1.5% of Sarasin & Partners LLP's investment portfolio, making the stock its 28th largest holding. Sarasin & Partners LLP owned approximately 0.07% of Cisco Systems worth $155,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after buying an additional 1,530,468 shares during the period. Wellington Management Group LLP increased its stake in shares of Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider's stock valued at $2,384,334,000 after buying an additional 3,314,330 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock valued at $1,254,739,000 after buying an additional 4,843,146 shares during the period. Finally, FIL Ltd increased its stake in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider's stock valued at $955,961,000 after buying an additional 6,054,748 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. HSBC upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. raised 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. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Piper Sandler reiterated a "neutral" rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $55.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company's stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.71 on Friday, reaching $54.25. 12,703,313 shares of the stock were exchanged, compared to its average volume of 19,161,271. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The firm has a market capitalization of $216.50 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 4.22 and a beta of 0.83. The business has a 50 day moving average price of $49.99 and a two-hundred day moving average price of $48.37.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results 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. 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 during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company's revenue was down 10.3% compared to the same quarter last year. Analysts anticipate 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems's payout ratio is presently 62.99%.

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.