12,336 Cisco Systems, Inc. $CSCO Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its Cisco stake by 1.7%, selling 12,336 shares and retaining 717,564 shares valued at approximately $77.2 million.
• Analysts remain broadly positive, with Cisco holding a “Moderate Buy” consensus rating and an average price target of $128.52; several firms recently raised their targets to as high as $150.
• Cisco beat quarterly earnings and revenue expectations, reporting $1.22 in EPS on $17.25 billion in revenue, while maintaining a quarterly dividend of $0.42 per share, or a 1.5% annual yield.

Park National Corp OH cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 717,564 shares of the network equipment provider's stock after selling 12,336 shares during the quarter. Cisco Systems comprises 2.1% of Park National Corp OH's investment portfolio, making the stock its 11th biggest holding. Park National Corp OH's holdings in Cisco Systems were worth $77,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSCO. BlackRock Inc. bought a new stake in Cisco Systems in the second quarter worth $42,129,647,000. Auto Owners Insurance Co boosted its position in shares of Cisco Systems by 8,718.3% during the fourth quarter. Auto Owners Insurance Co now owns 51,952,421 shares of the network equipment provider's stock valued at $400,190,000 after buying an additional 51,363,281 shares during the last quarter. Bank of America Corp DE bought a new stake in Cisco Systems in the 2nd quarter worth about $5,892,379,000. Bank of New York Mellon Corp purchased a new position in Cisco Systems in the 2nd quarter worth about $4,714,574,000. Finally, Deutsche Bank AG bought a new position in Cisco Systems during the 2nd quarter valued at about $1,997,004,000. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 6,487 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 167,116 shares of the company's stock, valued at $18,638,447.48. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,628 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $111.54, for a total value of $2,412,387.12. Following the sale, the chief executive officer owned 602,710 shares in the company, valued at approximately $67,226,273.40. This trade represents a 3.46% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 44,869 shares of company stock worth $5,005,620. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSCO. KeyCorp raised their price target on shares of Cisco Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Morgan Stanley lifted 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. Wells Fargo & Company increased their price target on Cisco Systems from $130.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Bank of America lifted their price objective on Cisco Systems from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Finally, Truist Financial upped their price target on Cisco Systems from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $128.52.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.02 during trading hours on Monday, hitting $112.22. The stock had a trading volume of 5,799,816 shares, compared to its average volume of 22,516,551. Cisco Systems, Inc. has a one year low of $66.81 and a one year high of $130.37. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.79. The stock's 50-day moving average price is $112.00 and its two-hundred day moving average price is $106.64. The stock has a market capitalization of $442.44 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.35 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 EPS for the quarter, beating 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 company had revenue of $17.25 billion during the quarter, compared to analyst estimates of $16.84 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The firm's revenue 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. Equities analysts forecast that Cisco Systems, Inc. will post 4.41 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is presently 50.30%.

Cisco Systems Company Profile

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.

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