Boston Trust Walden Corp Cuts Stock Position in Cisco Systems, Inc. $CSCO

Key Points

• Boston Trust Walden Corp reduced its stake in Cisco Systems by 6.1% in Q2 2023, bringing its total holdings to approximately 1.65 million shares, valued at $114.7 million.
• Cisco reported $0.99 earnings per share for the last quarter, surpassing analysts' expectations, and its revenue increased by 7.6% year-over-year to $14.67 billion.
• The company declared a quarterly dividend of $0.41 per share, with a yield of 2.4%, payable on October 22nd to shareholders of record as of October 3rd.

Boston Trust Walden Corp decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,653,731 shares of the network equipment provider's stock after selling 108,113 shares during the period. Cisco Systems comprises about 0.8% of Boston Trust Walden Corp's investment portfolio, making the stock its 28th biggest holding. Boston Trust Walden Corp's holdings in Cisco Systems were worth $114,736,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Financial Connections Group Inc. boosted its position in shares of Cisco Systems by 89.4% during the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider's stock valued at $28,000 after buying an additional 193 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Cisco Systems during the second quarter valued at $32,000. Pandora Wealth Inc. purchased a new stake in shares of Cisco Systems during the first quarter valued at $31,000. Nova Wealth Management Inc. purchased a new stake in shares of Cisco Systems during the first quarter valued at $31,000. Finally, Fairway Wealth LLC boosted its position in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $67.46 on Tuesday. The company has a market capitalization of $266.68 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. The business's fifty day moving average is $68.22 and its 200 day moving average is $64.95. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.Cisco Systems's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business 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. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is currently 62.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CSCO shares. Hsbc Global Res downgraded Cisco Systems from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Barclays raised their price target on Cisco Systems from $66.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Weiss Ratings restated a "buy (b-)" rating on shares of Cisco Systems in a research note on Wednesday, October 8th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, CICC Research started coverage on Cisco Systems in a research note on Monday, July 14th. They issued an "outperform" rating and a $78.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.72.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,744 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $66.78, for a total transaction of $116,464.32. Following the sale, the executive vice president directly owned 158,009 shares of the company's stock, valued at $10,551,841.02. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $68.08, for a total value of $185,041.44. Following the sale, the executive vice president directly owned 157,184 shares in the company, valued at approximately $10,701,086.72. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is currently owned by corporate insiders.

About Cisco Systems

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.

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