Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 94.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 652 shares of the network equipment provider's stock after selling 11,697 shares during the period. Krane Funds Advisors LLC's holdings in Cisco Systems were worth $35,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cisco Systems by 3.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 707,113 shares of the network equipment provider's stock worth $37,633,000 after acquiring an additional 21,686 shares during the period. Ballast Inc. raised its stake in shares of Cisco Systems by 0.9% during the 3rd quarter. Ballast Inc. now owns 27,488 shares of the network equipment provider's stock worth $1,463,000 after buying an additional 243 shares in the last quarter. TruWealth Advisors LLC lifted its holdings in shares of Cisco Systems by 2.0% in the 3rd quarter. TruWealth Advisors LLC now owns 424,745 shares of the network equipment provider's stock valued at $22,605,000 after buying an additional 8,389 shares during the period. Ellsworth Advisors LLC boosted its stake in shares of Cisco Systems by 5.5% in the third quarter. Ellsworth Advisors LLC now owns 103,033 shares of the network equipment provider's stock valued at $5,483,000 after buying an additional 5,417 shares in the last quarter. Finally, Cardinal Capital Management grew its holdings in Cisco Systems by 1.4% during the third quarter. Cardinal Capital Management now owns 153,066 shares of the network equipment provider's stock worth $8,146,000 after acquiring an additional 2,137 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 0.0 %

CSCO opened at $56.40 on Friday. The stock has a market capitalization of $227.23 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The business has a 50-day moving average of $50.95 and a two-hundred day moving average of $48.56.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 27.83% and a net margin of 19.18%. The business's quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. Cisco Systems's dividend payout ratio (DPR) is 53.87%.

Analysts Set New Price Targets

Several equities research analysts have commented on CSCO shares. Jefferies Financial Group decreased 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 report on Thursday, August 15th. New Street Research upgraded 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 report 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 company a "hold" rating in a research 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. Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Finally, Barclays dropped their price objective on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of "Hold" and a consensus price target of $56.74.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 transaction of $1,342,221.35. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 165,580 shares of the company's stock, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. 0.02% of the stock is owned by company 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.

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