Cisco Systems, Inc. (NASDAQ:CSCO) Short Interest Update

Cisco Systems, Inc. (NASDAQ:CSCO) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 48,430,000 shares, a decrease of 7.1% from the September 15th total of 52,150,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 18,520,000 shares, the days-to-cover ratio is presently 2.6 days.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on 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 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cisco Systems

Several institutional investors have recently modified their holdings of CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the last quarter. Marcum Wealth LLC lifted its position in Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after purchasing an additional 943 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares in the last quarter. Inscription Capital LLC grew its stake in shares of Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after acquiring an additional 15,198 shares during the period. Finally, Valmark Advisers Inc. increased its stake in shares of Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after purchasing an additional 1,820 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSCO. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a 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. Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Stock Down 0.4 %

Shares of NASDAQ:CSCO traded down $0.21 during midday trading on Thursday, reaching $56.17. The company’s stock had a trading volume of 11,550,915 shares, compared to its average volume of 19,155,223. The firm has a market capitalization of $226.30 billion, a P/E ratio of 18.94, a PEG ratio of 4.22 and a beta of 0.83. 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 has a 12-month low of $44.50 and a 12-month high of $56.58. The firm has a 50 day moving average of $50.73 and a 200-day moving average of $48.50.

Cisco Systems (NASDAQ:CSCO) last posted 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. 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 during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

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.