Cisco Systems, Inc. $CSCO Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,685 shares of the network equipment provider’s stock after selling 4,612 shares during the period. Adirondack Trust Co.’s holdings in Cisco Systems were worth $2,334,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Cisco Systems in the 2nd quarter worth $42,129,647,000. State Street Corp boosted its stake in shares of Cisco Systems by 7.0% during the 2nd quarter. State Street Corp now owns 207,106,569 shares of the network equipment provider’s stock valued at $25,278,492,000 after purchasing an additional 13,512,872 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Cisco Systems by 11.6% during the 4th quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider’s stock valued at $4,609,227,000 after purchasing an additional 6,224,062 shares in the last quarter. Auto Owners Insurance Co boosted its stake in shares of Cisco Systems by 8,718.3% during the 4th quarter. Auto Owners Insurance Co now owns 51,952,421 shares of the network equipment provider’s stock valued at $400,190,000 after purchasing an additional 51,363,281 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Cisco Systems during the second quarter valued at about $5,892,379,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 6,487 shares of Cisco Systems stock in a transaction on Friday, August 14th. The stock was sold at an average price of $111.53, for a total transaction of $723,495.11. Following the completion of the transaction, the executive vice president owned 167,116 shares in the company, valued at approximately $18,638,447.48. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya K. Subaiya sold 312 shares of Cisco Systems stock in a transaction on Monday, September 14th. The shares were sold at an average price of $110.18, for a total value of $34,376.16. Following the transaction, the executive vice president owned 127,661 shares of the company’s stock, valued at $14,065,688.98. The trade was a 0.24% 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. Insiders have sold a total of 44,869 shares of company stock worth $5,005,620 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.4%

CSCO traded down $0.49 during midday trading on Wednesday, reaching $114.58. The company’s stock had a trading volume of 5,674,508 shares, compared to its average volume of 22,262,260. The firm has a market capitalization of $451.73 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 2.40 and a beta of 0.99. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1 year low of $68.57 and a 1 year high of $130.37. The stock’s 50-day moving average is $112.04 and its 200-day moving average is $108.45.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The business 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 firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. 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, research analysts expect that Cisco Systems, Inc. will post 4.42 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared 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 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 presently 50.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSCO. Zacks Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 30th. Piper Sandler cut their price objective on Cisco Systems from $132.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 22nd. Barclays lifted their price objective on Cisco Systems from $121.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their target price on Cisco Systems from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, KeyCorp increased their target price on Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.52.

About Cisco Systems

Cisco Systems, Inc is a global technology company that develops networking, cybersecurity, collaboration, observability and data center solutions. Its products and services help businesses, governments, educational institutions and other organizations connect users and devices, manage infrastructure, protect digital environments and support cloud-based operations.

Cisco’s portfolio includes routers and switches, wireless networking equipment, network management software, firewalls, identity and access tools, endpoint security products, collaboration applications and observability platforms.