National Bank of Canada FI Acquires 384,016 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

National Bank of Canada FI increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,996,466 shares of the network equipment provider’s stock after buying an additional 384,016 shares during the period. National Bank of Canada FI owned 0.12% of Cisco Systems worth $237,333,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter worth $25,000. Retirement Group LLC raised its holdings in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at about $36,000. Tidemark LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CSCO. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted 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. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Rosenblatt Securities raised their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.53 during trading hours on Thursday, reaching $49.17. 4,514,500 shares of the company traded hands, compared to its average volume of 19,569,023. The firm has a 50-day moving average price of $47.79 and a 200 day moving average price of $47.93. The company has a market cap of $198.10 billion, a P/E ratio of 16.73, a P/E/G ratio of 3.98 and a beta of 0.85. 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 $57.47.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) 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 business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.25%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,944 shares of company stock valued at $3,566,120. 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.