Acadian Asset Management LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Acadian Asset Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,377,101 shares of the network equipment provider’s stock after selling 393,246 shares during the period. Acadian Asset Management LLC’s holdings in Cisco Systems were worth $112,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mcintyre Freedman & Flynn Investment Advisers Inc. grew its position in Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after acquiring an additional 202 shares during the period. Baker Boyer National Bank increased its position in shares of Cisco Systems by 2.6% during the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares during the last quarter. Holland Advisory Services Inc. increased its position in shares of Cisco Systems by 5.3% during the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares during the last quarter. WealthPLAN Partners LLC lifted its position in Cisco Systems by 3.0% in the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after buying an additional 213 shares during the last quarter. Finally, Ruedi Wealth Management Inc. boosted its stake in Cisco Systems by 17.6% during the first quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $48.50 on Friday. The company has a fifty day moving average of $47.84 and a two-hundred day moving average of $47.93. The company has a market capitalization of $195.40 billion, a PE ratio of 16.33, a P/E/G ratio of 3.98 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,944 shares of company stock valued at $3,566,120. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their target price 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 investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $55.89.

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.