Orion Portfolio Solutions LLC reduced its holdings in Cisco Systems, Inc. by 79.0% during the fourth quarter, selling 313,579 shares. Other hedge funds and institutional investors also adjusted their positions in the company. Despite this, Cisco Systems shares fell by 0.4% to $46.42 on Monday. The company’s financials show a 52-week low of $46.20 and a high of $58.19, with a market capitalization of $187.02 billion. Cisco Systems reported earnings of $0.88 per share for the quarter, outperforming analyst expectations and achieving a return on equity of 30.82%. The company also announced a quarterly dividend of $0.40 per share to be paid on July 24.
Wall Street analysts have varied opinions on Cisco Systems, with BNP Paribas upgrading the stock and setting a price target of $50, while Barclays raised their target price to $50. Overall, analysts have given the stock a consensus rating of “Hold.”
In terms of internal activity, executive vice presidents Deborah L. Stahlkopf and Richard Scott Herren have recently sold shares of Cisco Systems. Stahlkopf sold 8,016 shares at $48.24 per share, while Herren sold 13,942 shares at $50.00 per share. Insiders at the company have sold a total of 27,457 shares in the last 90 days.
Cisco Systems designs, manufactures, and sells Internet protocol-based networks and related products globally. Its product offerings include switching, routing, wireless, and computing solutions for various industries.
Overall, the company’s performance, financials, and internal activity indicate a mix of positive and negative indicators. Investors and analysts will continue to monitor Cisco Systems’ progress and market performance in the coming months.
Article Source
https://www.defenseworld.net/2024/05/27/cisco-systems-inc-nasdaqcsco-stake-lowered-by-orion-portfolio-solutions-llc.html