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

Umpqua Bank lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,487 shares of the network equipment provider’s stock after selling 1,297 shares during the period. Umpqua Bank’s holdings in Cisco Systems were worth $452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CSCO. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the second quarter worth about $25,000. West Financial Advisors LLC boosted its position in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Quarry LP raised its position in 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 buying an additional 456 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CSCO shares. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. 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. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Evercore ISI raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Rosenblatt Securities boosted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.74.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 approximately $33,794,278.35. This represents 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 valued at $3,509,049. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 2.5 %

CSCO traded up $1.39 during trading on Wednesday, hitting $57.55. The company’s stock had a trading volume of 790,531 shares, compared to its average volume of 18,894,709. The firm has a market capitalization of $229.67 billion, a P/E ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.70. The stock’s fifty day moving average price is $52.84 and its 200-day moving average price is $49.21. 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 (NASDAQ:CSCO) last issued 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 return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is currently 62.99%.

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.