Whittier Trust Co. Sells 13,527 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Whittier Trust Co. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,418 shares of the network equipment provider's stock after selling 13,527 shares during the period. Whittier Trust Co.'s holdings in Cisco Systems were worth $10,347,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares during the period. Retirement Group LLC boosted its position in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock valued at $36,000 after buying an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CSCO shares. New Street Research raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on 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. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.74.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company's stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, 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 quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company's stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $56.59 on Tuesday. 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 company has a market cap of $227.99 billion, a P/E ratio of 19.05, a P/E/G ratio of 4.22 and a beta of 0.83. The stock has a 50-day moving average of $51.41 and a two-hundred day moving average of $48.66. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly 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. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the business earned $1.01 EPS. Cisco Systems's revenue was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. 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 (DPR) is currently 53.87%.

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.

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