Chemung Canal Trust Co. Acquires 6,711 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Chemung Canal Trust Co. has increased its stake in Cisco Systems, Inc. by 12.2%, now owning a total of 61,826 shares valued at approximately $4.29 million.
• CEO Charles Robbins recently sold over 30,000 shares for approximately $2.04 million, representing a 4.56% decrease in his position.
• Cisco reported a quarterly earnings per share (EPS) of $0.99, exceeding analyst expectations, and has set a quarterly dividend of $0.41, to be paid on October 22nd.

Chemung Canal Trust Co. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,826 shares of the network equipment provider's stock after purchasing an additional 6,711 shares during the quarter. Chemung Canal Trust Co.'s holdings in Cisco Systems were worth $4,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Shipley& Co Ltd bought a new stake in Cisco Systems during the second quarter worth about $32,000. Pandora Wealth Inc. bought a new stake in Cisco Systems during the first quarter worth about $31,000. Nova Wealth Management Inc. bought a new stake in Cisco Systems during the first quarter worth about $31,000. Fairway Wealth LLC raised its stake in Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in Cisco Systems during the first quarter worth about $36,000. Institutional investors own 73.33% of the company's stock.

Insider Activity

In related news, CEO Charles Robbins sold 30,557 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.63, for a total value of $2,036,012.91. Following the transaction, the chief executive officer directly owned 639,000 shares in the company, valued at $42,576,570. This trade represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total value of $502,035.24. Following the completion of the transaction, the executive vice president owned 161,467 shares in the company, valued at approximately $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 82,965 shares of company stock worth $5,559,996. Company insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $67.92 on Friday. The stock has a market capitalization of $268.50 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.85 and a beta of 0.97. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $72.55. The stock's 50 day moving average price is $68.10 and its two-hundred day moving average price is $64.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. The firm had revenue of $14.67 billion for the quarter, compared to analysts' expectations of $14.63 billion. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. Cisco Systems has set its Q1 2026 guidance at 0.970-0.990 EPS. FY 2026 guidance at 4.000-4.060 EPS. On average, equities 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems's dividend payout ratio is presently 62.60%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSCO. William Blair raised Cisco Systems to a "hold" rating in a research note on Thursday, August 14th. Barclays boosted their target price 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. Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Piper Sandler boosted their target price on Cisco Systems from $64.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Cisco Systems in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.53.

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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