Azimuth Capital Investment Management LLC Has $16.14 Million Stake in Cisco Systems, Inc. $CSCO

Key Points

• Azimuth Capital Investment Management reduced its Cisco position by 6.7% in the second quarter, selling 9,925 shares. It still held 137,385 shares valued at approximately $16.14 million, while institutional investors collectively owned 73.33% of Cisco.
• Cisco reported quarterly earnings of $1.22 per share, exceeding estimates by $0.05, while revenue rose 17.6% year over year to $17.25 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $129.68.
• Cisco declared a quarterly dividend of $0.42 per share, equivalent to an annualized $1.68 payout and a 1.5% yield. Meanwhile, insiders sold 53,611 shares worth about $6.07 million over the past three months.

Azimuth Capital Investment Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,385 shares of the network equipment provider's stock after selling 9,925 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Cisco Systems were worth $16,137,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Unique Wealth LLC lifted its holdings in shares of Cisco Systems by 9.6% in the second quarter. Unique Wealth LLC now owns 3,114 shares of the network equipment provider's stock valued at $366,000 after purchasing an additional 274 shares in the last quarter. Noble Wealth Partners LLC bought a new position in shares of Cisco Systems in the second quarter valued at $561,000. Advisory Solutions Group LLC bought a new stake in Cisco Systems during the second quarter worth $878,000. Rose Capital Advisors LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $447,000. Finally, NI Acquisitions Company LLC bought a new stake in Cisco Systems in the second quarter valued at approximately $218,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 0.5%

NASDAQ CSCO opened at $109.20 on Friday. Cisco Systems, Inc. has a one year low of $66.13 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 has a market capitalization of $430.41 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.28 and a beta of 1.00. The business has a 50 day simple moving average of $114.26 and a 200 day simple moving average of $102.20.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The firm had revenue of $17.25 billion for the quarter, compared to analyst estimates of $16.84 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The business's quarterly 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. Research analysts expect that Cisco Systems, Inc. will post 4.43 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 issued a dividend of $0.42 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.68 annualized dividend and a yield of 1.5%. Cisco Systems's dividend payout ratio is presently 50.30%.

Insider Activity

In other news, EVP Thimaya Subaiya sold 7,127 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $119.91, for a total transaction of $854,598.57. Following the completion of the sale, the executive vice president directly owned 140,857 shares of the company's stock, valued at $16,890,162.87. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Deborah Stahlkopf sold 6,487 shares of Cisco Systems stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $111.53, for a total value of $723,495.11. Following the transaction, the executive vice president directly owned 167,116 shares in the company, valued at approximately $18,638,447.48. The trade was a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 53,611 shares of company stock valued at $6,066,680. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSCO shares. Bank of America raised their target price on shares of Cisco Systems from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. KeyCorp boosted their target price on shares of Cisco Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Truist Financial upped their price target on shares of Cisco Systems from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Argus lifted their price target on shares of Cisco Systems from $100.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Finally, Evercore raised their target price on shares of Cisco Systems from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.68.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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