AlTi Global Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

AlTi Global Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 24,058 shares of the network equipment provider’s stock after selling 3,228 shares during the period. AlTi Global Inc.’s holdings in Cisco Systems were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CSCO. Swedbank AB purchased a new position in Cisco Systems during the first quarter worth about $840,538,000. FIL Ltd grew its position in Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP grew its position in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Natixis grew its position in Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after buying an additional 4,010,228 shares during the period. Finally, Wellington Management Group LLP grew its position in Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group lowered their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.00.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $52.65 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $210.11 billion, a P/E ratio of 17.73, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58. The firm’s 50 day moving average is $48.72 and its two-hundred day moving average is $48.08.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

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.