Patten Group Inc. Sells 788 Shares of Cisco Systems, Inc. $CSCO

Patten Group Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,755 shares of the network equipment provider’s stock after selling 788 shares during the quarter. Cisco Systems accounts for about 1.0% of Patten Group Inc.’s portfolio, making the stock its 17th largest position. Patten Group Inc.’s holdings in Cisco Systems were worth $4,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Drive Wealth Management LLC boosted its stake in shares of Cisco Systems by 2.7% during the second quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock valued at $1,152,000 after purchasing an additional 436 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Cisco Systems by 0.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock valued at $55,049,000 after purchasing an additional 6,501 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Cisco Systems by 10.8% during the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after purchasing an additional 612 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of Cisco Systems by 53.3% during the second quarter. Shell Asset Management Co. now owns 77,234 shares of the network equipment provider’s stock valued at $5,358,000 after purchasing an additional 26,840 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Cisco Systems by 255.9% during the first quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider’s stock valued at $482,509,000 after purchasing an additional 5,622,672 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $70.72 on Wednesday. The stock’s 50 day moving average is $68.18 and its 200 day moving average is $65.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. The firm has a market cap of $279.57 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.98 and a beta of 0.97. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $14.67 billion for the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. Cisco Systems has set its Q1 2026 guidance at 0.970-0.990 EPS. FY 2026 guidance at 4.000-4.060 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.41 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. Cisco Systems’s payout ratio is currently 62.60%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 2,718 shares of Cisco Systems stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $68.08, for a total value of $185,041.44. Following the completion of the sale, the executive vice president owned 157,184 shares in the company, valued at $10,701,086.72. The trade was a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction on Friday, September 12th. The shares were sold at an average price of $66.78, for a total transaction of $116,464.32. Following the completion of the sale, the executive vice president owned 158,009 shares of the company’s stock, valued at $10,551,841.02. This represents a 1.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock worth $5,559,996 over the last ninety days. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSCO. Hsbc Global Res lowered Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. HSBC reissued a “hold” rating and set a $69.00 price target on shares of Cisco Systems in a research note on Friday, August 15th. UBS Group lifted their price target on Cisco Systems from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler lifted their price objective on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.72.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.