Busey Bank Has $11.49 Million Stock Holdings in Cisco Systems, Inc. $CSCO

Key Points

• Busey Bank has reduced its stake in Cisco Systems, Inc. by 3.6%, now holding shares worth approximately $11.49 million.
• Cisco reported earnings of $0.99 per share for the latest quarter, exceeding expectations and achieving a revenue increase of 7.6% compared to last year.
• The board declared a quarterly dividend of $0.41, with a payout ratio of 62.60%, signaling continued financial stability.

Busey Bank lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 165,596 shares of the network equipment provider's stock after selling 6,115 shares during the period. Busey Bank's holdings in Cisco Systems were worth $11,489,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Cisco Systems by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider's stock worth $24,002,095,000 after purchasing an additional 1,865,648 shares during the period. Invesco Ltd. lifted its position in shares of Cisco Systems by 10.4% during the 1st quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider's stock valued at $2,907,599,000 after acquiring an additional 4,437,450 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Cisco Systems by 37.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider's stock valued at $2,898,722,000 after acquiring an additional 12,775,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cisco Systems by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,797,629 shares of the network equipment provider's stock valued at $2,332,492,000 after acquiring an additional 1,326,354 shares during the period. Finally, Amundi lifted its position in shares of Cisco Systems by 11.0% during the 1st quarter. Amundi now owns 29,170,847 shares of the network equipment provider's stock valued at $1,679,312,000 after acquiring an additional 2,898,391 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $68.21 on Friday. Cisco Systems, Inc. has a 1 year low of $51.42 and a 1 year high of $72.55. 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 $269.65 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.89 and a beta of 0.99. The company has a fifty day moving average price of $68.14 and a 200-day moving average price of $64.13.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. The firm had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business's revenue was up 7.6% compared to the same quarter last year. 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, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. CICC Research assumed coverage on shares of Cisco Systems in a research report on Monday, July 14th. They set an "outperform" rating and a $78.00 target price on the stock. Piper Sandler boosted their target price on shares of Cisco Systems from $64.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Rosenblatt Securities reiterated a "buy" rating and set a $87.00 target price on shares of Cisco Systems in a research report on Thursday, August 14th. Finally, Bank of America boosted their target price on shares of Cisco Systems from $76.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $74.53.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,061 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $66.60, for a total value of $603,462.60. Following the sale, the insider directly owned 237,405 shares of the company's stock, valued at approximately $15,811,173. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the completion of the sale, the executive vice president directly owned 161,467 shares in the company, valued at approximately $10,792,454.28. The trade was a 4.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,439 shares of company stock worth $4,369,104 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

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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