Charles Schwab Trust Co decreased its holdings in Cisco Systems, Inc. by 59.1% in the first quarter, selling over 10,000 shares. The company now owns 7,403 shares worth $369,000. Other hedge funds like PGIM Custom Harvest LLC and Operose Advisors LLC also bought and sold Cisco shares. Additionally, analysts predict Cisco Systems will post 3.14 EPS for the current fiscal year.
Cisco Systems’ stock rose by 0.2% on Wednesday, opening at $47.38. The company’s revenue for the quarter exceeded analysts’ estimates, with a net margin of 21.88%. Cisco Systems also announced a quarterly dividend of $0.40 per share. Wall Street analysts have mixed ratings on CSCO, with a majority giving it a hold rating.
In terms of insider trading, CEO Carlos Robbins sold over 26,000 shares at an average price of $46.10. Other executives like SVP Maria Victoria Wong also sold shares recently. Overall, insiders sold over 41,000 shares in the last ninety days.
Cisco Systems, Inc. designs and sells networks and products related to communications and IT industry worldwide. Their product portfolio includes switching products, wireless access points, and computing systems. The company is a significant player in the market with a market capitalization of $190.89 billion and a dividend yield of 3.38%.
For more information on Cisco Systems, investors can visit HoldingsChannel.com for the latest filings and insider trading reports. Receive daily news and ratings on Cisco Systems by signing up for a newsletter from MarketBeat.com.
Article Source
https://www.defenseworld.net/2024/06/26/charles-schwab-trust-co-sells-10692-shares-of-cisco-systems-inc-nasdaqcsco.html