Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Norway Savings Bank

Norway Savings Bank cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,693 shares of the network equipment provider’s stock after selling 602 shares during the quarter. Norway Savings Bank’s holdings in Cisco Systems were worth $463,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CSCO. Chicago Partners Investment Group LLC increased its stake in shares of Cisco Systems by 1.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,845 shares of the network equipment provider’s stock worth $1,070,000 after acquiring an additional 331 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Cisco Systems during the fourth quarter worth about $68,000. ICA Group Wealth Management LLC boosted its holdings in Cisco Systems by 7.5% in the 4th quarter. ICA Group Wealth Management LLC now owns 4,129 shares of the network equipment provider’s stock valued at $209,000 after purchasing an additional 287 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Cisco Systems by 66.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,754 shares of the network equipment provider’s stock valued at $190,000 after buying an additional 1,496 shares during the period. Finally, Canandaigua National Bank & Trust Co. increased its holdings in shares of Cisco Systems by 9.4% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 108,269 shares of the network equipment provider’s stock worth $5,404,000 after buying an additional 9,288 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. 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 can be accessed through the SEC website. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note 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. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.21.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.23 during midday trading on Tuesday, reaching $54.04. The stock had a trading volume of 4,967,484 shares, compared to its average volume of 19,051,096. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $217.72 billion, a P/E ratio of 18.27, a P/E/G ratio of 4.22 and a beta of 0.83. The firm has a fifty day simple moving average of $50.33 and a two-hundred day simple moving average of $48.42. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.60.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.