Amalgamated Bank Has $38.92 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Amalgamated Bank decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 819,112 shares of the network equipment provider’s stock after selling 15,974 shares during the quarter. Amalgamated Bank’s holdings in Cisco Systems were worth $38,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth about $25,000. Retirement Group LLC grew its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter worth about $36,000. Tidemark LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the first quarter worth about $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $50.61 on Wednesday. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $56.28. The stock’s 50 day moving average is $48.25 and its 200-day moving average is $47.99. The firm has a market capitalization of $203.90 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83.

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. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS 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. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Analysts Set New Price Targets

Several analysts recently commented on CSCO shares. JPMorgan Chase & Co. upped their target price 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. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.89.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by insiders.

Cisco Systems 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.