Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Cornerstone Capital Inc.

Cornerstone Capital Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the third quarter, HoldingsChannel reports. The fund owned 378,394 shares of the network equipment provider’s stock after buying an additional 6,563 shares during the quarter. Cisco Systems makes up about 1.9% of Cornerstone Capital Inc.’s portfolio, making the stock its 21st largest position. Cornerstone Capital Inc.’s holdings in Cisco Systems were worth $20,138,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. IRON Financial LLC acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $856,000. Finally, Quintet Private Bank Europe S.A. raised its holdings in Cisco Systems by 17.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after buying an additional 92,179 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 0.4 %

Shares of Cisco Systems stock traded up $0.22 on Tuesday, reaching $56.05. 1,860,424 shares of the company were exchanged, compared to its average volume of 18,940,414. The stock has a fifty day moving average price of $52.73 and a 200-day moving average price of $49.16. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $223.68 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 4.60 and a beta of 0.83. 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 posted its quarterly earnings data 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. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 62.99%.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Finally, Tigress Financial boosted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.