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

Adirondack Trust Co. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.5% during the third quarter, according to the company in its most recent filing with the Securities and 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 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lodestone Wealth Management LLC boosted its stake in shares of Cisco Systems by 1.3% in the 3rd quarter. Lodestone Wealth Management LLC now owns 35,603 shares of the network equipment provider’s stock valued at $3,832,000 after purchasing an additional 443 shares in the last quarter. ABLE Financial Group LLC raised its position in Cisco Systems by 15.4% in the 3rd quarter. ABLE Financial Group LLC now owns 22,129 shares of the network equipment provider’s stock worth $2,382,000 after purchasing an additional 2,961 shares during the period. First Citizens Bank & Trust Co. raised its position in Cisco Systems by 8.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 312,280 shares of the network equipment provider’s stock worth $33,611,000 after purchasing an additional 23,485 shares during the period. Focus Financial Network Inc. raised its position in Cisco Systems by 6.8% in the 3rd quarter. Focus Financial Network Inc. now owns 37,313 shares of the network equipment provider’s stock worth $4,227,000 after purchasing an additional 2,363 shares during the period. Finally, Roberts Wealth Advisors LLC lifted its stake in Cisco Systems by 5.9% in the third quarter. Roberts Wealth Advisors LLC now owns 61,714 shares of the network equipment provider’s stock worth $6,642,000 after purchasing an additional 3,450 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, insider Jeetendra Patel sold 7,170 shares of the 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 completion of the sale, the insider directly owned 230,593 shares in the company, valued at approximately $25,727,261.01. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya Subaiya sold 312 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $110.18, for a total value of $34,376.16. Following the completion of the sale, the executive vice president directly owned 127,661 shares in the company, valued at $14,065,688.98. The trade was a 0.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 44,869 shares of company stock valued at $5,005,620 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.4%

NASDAQ:CSCO traded down $0.49 during midday trading on Wednesday, reaching $114.58. 5,674,508 shares of the stock traded hands, compared to its average volume of 22,262,260. The company has a fifty day moving average of $112.04 and a 200 day moving average of $108.45. Cisco Systems, Inc. has a 12 month low of $68.57 and a 12 month high of $130.37. 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 stock has a market capitalization of $451.73 billion, a P/E ratio of 34.35, a PEG ratio of 2.40 and a beta of 0.99.

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. The business had revenue of $17.25 billion during the quarter, compared to analysts’ expectations of $16.84 billion. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 EPS. 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, research analysts predict that Cisco Systems, Inc. will post 4.42 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, October 2nd. Cisco Systems’s dividend payout ratio is 50.30%.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. HSBC downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and lowered their price target for the stock from $137.00 to $120.00 in a research note on Friday, August 14th. Piper Sandler reduced their price objective on Cisco Systems from $132.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 22nd. Morgan Stanley lifted their price objective on Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Zacks Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 30th. Finally, Wells Fargo & Company boosted their target price on Cisco Systems from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock 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.