Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,586,581 shares of the network equipment provider’s stock after purchasing an additional 347,061 shares during the quarter. Cisco Systems comprises 0.8% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 20th biggest position. DekaBank Deutsche Girozentrale owned 0.21% of Cisco Systems worth $452,526,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at about $25,000. Quarry LP increased its position 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 valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $55.74 on Friday. The stock has a market cap of $224.57 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The business has a 50 day moving average price of $52.12 and a 200 day moving average price of $48.86.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business earned $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $56.74.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This 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 this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on 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. This 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, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now 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. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last quarter. Company insiders own 0.02% of the company’s stock.

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.