Vontobel Holding Ltd. Sells 171,472 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Vontobel Holding Ltd. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,170,653 shares of the network equipment provider’s stock after selling 171,472 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cisco Systems were worth $62,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new stake in Cisco Systems in the 4th quarter valued at $68,000. GAMMA Investing LLC raised its holdings in Cisco Systems by 15.8% in the 1st quarter. GAMMA Investing LLC now owns 61,502 shares of the network equipment provider’s stock valued at $3,070,000 after acquiring an additional 8,394 shares in the last quarter. Butensky & Cohen Financial Security Inc. lifted its position in shares of Cisco Systems by 2.1% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 92,234 shares of the network equipment provider’s stock worth $4,603,000 after acquiring an additional 1,913 shares during the period. Atlas Brown Inc. grew its holdings in shares of Cisco Systems by 5.6% during the 1st quarter. Atlas Brown Inc. now owns 21,995 shares of the network equipment provider’s stock worth $1,098,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Tompkins Financial Corp increased its position in shares of Cisco Systems by 7.6% during the first quarter. Tompkins Financial Corp now owns 240,439 shares of the network equipment provider’s stock valued at $12,000,000 after purchasing an additional 17,034 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted 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. Barclays reduced their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research note on Wednesday. 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Up 2.5 %

CSCO traded up $1.36 during trading on Wednesday, reaching $55.44. The company had a trading volume of 10,135,853 shares, compared to its average volume of 19,078,225. The business’s fifty day moving average price is $50.51 and its 200 day moving average price is $48.45. 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, Inc. has a 12 month low of $44.50 and a 12 month high of $55.73. The company has a market cap of $223.36 billion, a P/E ratio of 18.21, a PEG ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’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 value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on 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 $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate 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.