Cisco Systems, Inc. $CSCO Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,143,460 shares of the network equipment provider’s stock after selling 2,242,968 shares during the quarter. Cisco Systems makes up 0.8% of Legal & General Group Plc’s investment portfolio, making the stock its 20th largest position. Legal & General Group Plc’s holdings in Cisco Systems were worth $3,775,571,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSCO. MidAtlantic Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth about $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Cisco Systems in the 4th quarter worth about $25,000. Networth Advisors LLC boosted its holdings in Cisco Systems by 276.4% in the 1st quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider’s stock worth $26,000 after buying an additional 246 shares during the last quarter. Financial Life Planners purchased a new stake in Cisco Systems during the 1st quarter worth approximately $27,000. Finally, Manning & Napier Advisors LLC raised its holdings in shares of Cisco Systems by 137.0% during the first quarter. Manning & Napier Advisors LLC now owns 346 shares of the network equipment provider’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CSCO. BNP Paribas Exane raised their target price on Cisco Systems from $87.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Citigroup boosted their price target on Cisco Systems from $90.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. UBS Group increased their price objective on Cisco Systems from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded Cisco Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, Citic Securities lifted their target price on shares of Cisco Systems from $90.00 to $130.00 in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Cisco Systems Stock Down 0.7%

Shares of CSCO opened at $110.23 on Tuesday. Cisco Systems, Inc. has a 52-week low of $66.13 and a 52-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 stock has a fifty day simple moving average of $115.82 and a two-hundred day simple moving average of $100.56. The company has a market capitalization of $434.46 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The firm had revenue of $17.25 billion for the quarter, compared to analysts’ expectations of $16.84 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The company’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. As a group, equities analysts forecast that Cisco Systems, Inc. will post 4.51 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders 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 dividend yield of 1.5%. Cisco Systems’s dividend payout ratio is 50.30%.

Insiders Place Their Bets

In other news, EVP Oliver Tuszik sold 2,760 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.46, for a total transaction of $310,389.60. Following the completion of the sale, the executive vice president owned 165,276 shares in the company, valued at $18,586,938.96. This trade represents a 1.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Deborah L. Stahlkopf sold 6,487 shares of Cisco Systems stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $111.53, for a total transaction of $723,495.11. Following the sale, the executive vice president directly owned 167,116 shares in the company, valued at approximately $18,638,447.48. The trade was a 3.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 53,611 shares of company stock worth $6,066,680. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Company Profile

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.