Cisco Systems, Inc. $CSCO Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 227.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,336 shares of the network equipment provider’s stock after purchasing an additional 11,340 shares during the period. Provenance Wealth Advisors LLC’s holdings in Cisco Systems were worth $1,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Cisco Systems during the 2nd quarter worth $42,129,647,000. Bank of America Corp DE acquired a new position in Cisco Systems during the 2nd quarter valued at about $5,892,379,000. Bank of New York Mellon Corp purchased a new stake in Cisco Systems in the second quarter valued at about $4,714,574,000. Deutsche Bank AG purchased a new stake in Cisco Systems in the second quarter valued at about $1,997,004,000. Finally, State Street Corp boosted its holdings in Cisco Systems by 7.0% in the second quarter. State Street Corp now owns 207,106,569 shares of the network equipment provider’s stock worth $25,278,492,000 after acquiring an additional 13,512,872 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 7,170 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $111.57, for a total value of $799,956.90. Following the sale, the insider owned 230,593 shares in the company, valued at $25,727,261.01. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,628 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $111.54, for a total transaction of $2,412,387.12. Following the completion of the sale, the chief executive officer owned 602,710 shares in the company, valued at $67,226,273.40. The trade was a 3.46% decrease in their position. 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 a total of 44,869 shares of company stock worth $5,005,620 in the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Up 1.3%

Shares of CSCO stock opened at $102.97 on Wednesday. The stock’s 50-day simple moving average is $109.67 and its 200-day simple moving average is $101.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 0.93. The firm has a market capitalization of $405.97 billion, a PE ratio of 30.83, a P/E/G ratio of 2.12 and a beta of 1.01. Cisco Systems, Inc. has a fifty-two week low of $70.54 and a fifty-two week high of $130.37.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%. The firm had revenue of $17.25 billion during the quarter, compared to the consensus estimate of $16.84 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. 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. Equities analysts expect that Cisco Systems, Inc. will post 4.42 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 1.6%. Cisco Systems’s dividend payout ratio (DPR) is currently 50.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Zacks Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. Sanford C. Bernstein initiated coverage on shares of Cisco Systems in a research report on Wednesday, September 30th. They issued a “market perform” rating and a $110.00 price objective for the company. UBS Group lifted their target price on shares of Cisco Systems from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley boosted their target price on shares of Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Cisco Systems currently 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 and observability solutions for businesses, government organizations and service providers. Its offerings include routers, switches, wireless networking equipment, data-center infrastructure, security software and services, as well as technologies that support cloud and hybrid IT environments.

The company also provides collaboration tools through its Webex portfolio, cloud-managed networking through Cisco Meraki and security and observability capabilities that include technologies from Splunk, which Cisco acquired in 2024.