State of Alaska Department of Revenue Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

State of Alaska Department of Revenue cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 800,868 shares of the network equipment provider’s stock after selling 118,835 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cisco Systems were worth $42,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Cornerstone Wealth Group LLC boosted its holdings in shares of Cisco Systems by 47.9% during the first quarter. Cornerstone Wealth Group LLC now owns 7,579 shares of the network equipment provider’s stock worth $378,000 after purchasing an additional 2,455 shares during the period. Citizens Business Bank lifted its holdings in Cisco Systems by 0.6% in the 1st quarter. Citizens Business Bank now owns 48,751 shares of the network equipment provider’s stock worth $2,433,000 after buying an additional 279 shares during the period. Roberts Wealth Advisors LLC grew its position in shares of Cisco Systems by 0.6% in the 1st quarter. Roberts Wealth Advisors LLC now owns 79,439 shares of the network equipment provider’s stock worth $3,832,000 after buying an additional 511 shares during the last quarter. Aviance Capital Partners LLC increased its stake in shares of Cisco Systems by 8.4% during the first quarter. Aviance Capital Partners LLC now owns 83,291 shares of the network equipment provider’s stock valued at $4,157,000 after buying an additional 6,454 shares during the period. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Cisco Systems by 7.3% during the first quarter. Wolff Wiese Magana LLC now owns 42,491 shares of the network equipment provider’s stock valued at $2,121,000 after acquiring an additional 2,883 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price target on 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $55.74 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $224.57 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The business has a 50-day simple moving average of $52.12 and a two-hundred day simple moving average of $48.86. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share 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 previous year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, 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 value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last 90 days. Company insiders own 0.02% of the company’s stock.

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.