Cisco Systems, Inc. $CSCO Shares Sold by Allworth Financial LP

by · The Cerbat Gem

Allworth Financial LP reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,937 shares of the network equipment provider’s stock after selling 113,989 shares during the quarter. Allworth Financial LP’s holdings in Cisco Systems were worth $74,852,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Cisco Systems by 6.4% in the 2nd quarter. Arizona State Retirement System now owns 1,151,743 shares of the network equipment provider’s stock valued at $140,612,000 after acquiring an additional 69,213 shares during the period. West Family Investments Inc. raised its holdings in shares of Cisco Systems by 10.6% in the second quarter. West Family Investments Inc. now owns 24,974 shares of the network equipment provider’s stock valued at $3,147,000 after buying an additional 2,386 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of Cisco Systems by 60.0% during the second quarter. Waverly Advisors LLC now owns 683,109 shares of the network equipment provider’s stock worth $80,852,000 after buying an additional 256,239 shares during the period. Empirical Finance LLC grew its holdings in shares of Cisco Systems by 8.2% during the second quarter. Empirical Finance LLC now owns 156,958 shares of the network equipment provider’s stock worth $19,127,000 after buying an additional 11,842 shares during the last quarter. Finally, Nykredit A S acquired a new position in Cisco Systems in the 2nd quarter valued at about $196,388,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.03 during trading on Tuesday, hitting $109.17. 14,680,359 shares of the company were exchanged, compared to its average volume of 22,994,383. Cisco Systems, Inc. has a fifty-two week low of $66.13 and a fifty-two week high of $130.37. The company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average price of $114.09 and a 200 day moving average price of $102.61. The stock has a market capitalization of $430.41 billion, a price-to-earnings ratio of 32.69, a P/E/G ratio of 2.28 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.The company had revenue of $17.25 billion during the quarter, compared to the consensus estimate of $16.84 billion. During the same quarter last year, the business posted $0.99 earnings per share. Cisco Systems’s revenue was up 17.6% compared to the same quarter last year. Cisco Systems has set its FY 2027 guidance at 5.050-5.110 EPS and its Q1 2027 guidance at 1.320-1.340 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 4.43 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 21st. Investors of record on Friday, October 2nd will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.68 annualized dividend and a yield of 1.5%. Cisco Systems’s payout ratio is presently 50.30%.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra Patel sold 7,170 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $111.57, for a total transaction of $799,956.90. Following the sale, the insider directly owned 230,593 shares of the company’s stock, valued at $25,727,261.01. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Deborah Stahlkopf sold 6,487 shares of Cisco Systems stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $111.53, for a total transaction of $723,495.11. Following the sale, the executive vice president owned 167,116 shares of the company’s stock, valued at approximately $18,638,447.48. This trade represents a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,611 shares of company stock worth $6,066,680 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $95.00 to $96.00 in a report on Monday, May 11th. Truist Financial increased their price target on Cisco Systems from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Citic Securities lifted their price objective on shares of Cisco Systems from $90.00 to $130.00 in a research report on Friday, May 15th. KeyCorp boosted their price objective on shares of Cisco Systems from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $86.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $129.68.

Get Our Latest Stock Report on CSCO

Cisco Systems Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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