DekaBank Deutsche Girozentrale Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

DekaBank Deutsche Girozentrale reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,239,520 shares of the network equipment provider’s stock after selling 331,458 shares during the quarter. Cisco Systems comprises approximately 0.7% of DekaBank Deutsche Girozentrale’s portfolio, making the stock its 22nd biggest holding. DekaBank Deutsche Girozentrale owned approximately 0.20% of Cisco Systems worth $390,380,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CSCO. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth about $25,000. Retirement Group LLC lifted its position in 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 buying an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems in the second quarter worth approximately $36,000. Tidemark LLC bought a new position in Cisco Systems during the fourth quarter valued at approximately $41,000. Finally, Redmont Wealth Advisors LLC bought a new position in Cisco Systems during the first quarter valued at approximately $41,000. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price 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 target price for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average price target of $55.89.

Cisco Systems Price Performance

CSCO stock opened at $49.61 on Friday. The firm has a 50-day moving average of $47.99 and a 200 day moving average of $47.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market cap of $199.87 billion, a P/E ratio of 16.70, a PEG ratio of 3.82 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.53.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.23%. Cisco Systems’s payout ratio is 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s 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 transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last three months. Company insiders own 0.02% of the company’s stock.

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.