Forsta AP Fonden Has $54.02 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Forsta AP Fonden trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% during the third quarter, HoldingsChannel reports. The fund owned 1,015,000 shares of the network equipment provider’s stock after selling 63,500 shares during the quarter. Forsta AP Fonden’s holdings in Cisco Systems were worth $54,018,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Cisco Systems in the first quarter worth approximately $840,538,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Natixis grew its position in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after purchasing an additional 2,906,357 shares during the period. Finally, Capitolis Liquid Global Markets LLC boosted its stake in Cisco Systems by 318.4% during the first quarter. Capitolis Liquid Global Markets LLC now owns 3,782,100 shares of the network equipment provider’s stock valued at $188,765,000 after buying an additional 2,878,100 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. 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 research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.74.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $0.22 during mid-day trading on Friday, hitting $55.74. The stock had a trading volume of 14,680,466 shares, compared to its average volume of 19,091,068. 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 company has a 50 day moving average of $52.12 and a two-hundred day moving average of $48.87. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The firm has a market cap of $224.57 billion, a PE ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm earned $1.01 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

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.