60,000 Shares of Cisco Systems, Inc. $CSCO Acquired by Bright Rock Capital Management LLC

Key Points

• Bright Rock Capital Management acquired 60,000 Cisco shares worth approximately $6.46 million in the third quarter, while institutional investors collectively own 73.33% of the company.
• Cisco reported quarterly earnings of $1.22 per share and revenue of $17.25 billion, surpassing analyst expectations; revenue increased 17.6% year over year.
• Cisco shares traded near $112, and the company declared a quarterly dividend of $0.42 per share, representing a 1.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $128.52.

Bright Rock Capital Management LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 60,000 shares of the network equipment provider's stock, valued at approximately $6,458,000.

Other hedge funds have also bought and sold shares of the company. Argent Capital Management LLC raised its position in shares of Cisco Systems by 2,132.9% in the 3rd quarter. Argent Capital Management LLC now owns 91,750 shares of the network equipment provider's stock valued at $9,875,000 after buying an additional 87,641 shares in the last quarter. Heartwood Wealth Advisors LLC boosted its position in shares of Cisco Systems by 9.9% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 7,897 shares of the network equipment provider's stock worth $850,000 after acquiring an additional 712 shares in the last quarter. Rockland Trust Co. increased its stake in Cisco Systems by 1,193.6% in the third quarter. Rockland Trust Co. now owns 218,003 shares of the network equipment provider's stock valued at $23,464,000 after acquiring an additional 201,150 shares during the last quarter. Violich Capital Management Inc. raised its position in Cisco Systems by 0.7% during the third quarter. Violich Capital Management Inc. now owns 73,935 shares of the network equipment provider's stock valued at $7,958,000 after purchasing an additional 500 shares in the last quarter. Finally, Polaris Financial Partners acquired a new position in Cisco Systems during the third quarter valued at approximately $111,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 6,487 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $111.53, for a total transaction of $723,495.11. Following the completion of the sale, the executive vice president owned 167,116 shares of the company's stock, valued at $18,638,447.48. This trade represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeetendra I. Patel sold 7,170 shares of Cisco Systems stock in a transaction on 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 owned 230,593 shares of the company's stock, valued at $25,727,261.01. This represents a 3.02% 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 sold 44,869 shares of company stock worth $5,005,620 over the last three months. Insiders own 0.01% of the company's stock.

Cisco Systems Trading Down 0.1%

Shares of NASDAQ:CSCO traded down $0.10 during mid-day trading on Monday, reaching $112.11. 4,887,689 shares of the company's stock were exchanged, compared to its average volume of 22,511,689. The firm has a market capitalization of $441.98 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 2.35 and a beta of 0.99. The business's fifty day moving average price is $112.00 and its 200-day moving average price is $106.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 0.93. Cisco Systems, Inc. has a twelve month low of $66.81 and a twelve month high of $130.37.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $17.25 billion during the quarter, compared to the consensus estimate of $16.84 billion. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.Cisco Systems's quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. 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 4.41 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CSCO shares. Barclays upped their price objective on shares of Cisco Systems from $121.00 to $123.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their price target on shares of Cisco Systems from $130.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Truist Financial increased their price target on Cisco Systems from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Zacks Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 30th. Finally, HSBC cut Cisco Systems from a "buy" rating to a "hold" rating and lowered their target price for the stock from $137.00 to $120.00 in a report on Friday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.52.

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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