Cisco Systems, Inc. $CSCO Shares Purchased by First Horizon Corp

Key Points

• First Horizon Corp increased its Cisco Systems stake by 19.4% in the first quarter, buying 83,957 additional shares and bringing its holdings to 515,730 shares worth about $40.0 million.
• Analysts remain generally bullish on Cisco, with several firms raising price targets and the stock carrying an average “Moderate Buy” rating and a consensus target of $123.14.
• Cisco reported better-than-expected quarterly results, posting $1.06 EPS on $15.84 billion in revenue, and also announced a quarterly dividend of $0.42 per share to be paid on July 22.

First Horizon Corp raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,730 shares of the network equipment provider's stock after purchasing an additional 83,957 shares during the period. Cisco Systems makes up approximately 1.7% of First Horizon Corp's investment portfolio, making the stock its 7th biggest position. First Horizon Corp's holdings in Cisco Systems were worth $40,015,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Intesa Sanpaolo Wealth Management bought a new position in Cisco Systems during the 4th quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $25,000. Networth Advisors LLC boosted its position in shares of Cisco Systems by 276.4% during the 1st quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider's stock valued at $26,000 after purchasing an additional 246 shares in the last quarter. Financial Life Planners bought a new stake in shares of Cisco Systems during the 1st quarter valued at about $27,000. Finally, Jessup Wealth Management Inc acquired a new stake in Cisco Systems during the fourth quarter worth approximately $29,000. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on CSCO shares. Barclays boosted their price target on Cisco Systems from $76.00 to $121.00 and gave the company an "equal weight" rating in a research note on Thursday, May 14th. New Street Research lifted their price objective on shares of Cisco Systems from $82.00 to $122.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. KeyCorp boosted their target price on shares of Cisco Systems from $125.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Zacks Research upgraded shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Finally, Evercore lifted their price target on shares of Cisco Systems from $110.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $123.14.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 21,400 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $120.03, for a total value of $2,568,642.00. Following the completion of the sale, the chief executive officer directly owned 637,085 shares of the company's stock, valued at approximately $76,469,312.55. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya K. Subaiya sold 7,127 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was 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 owned 140,857 shares of the company's stock, valued at approximately $16,890,162.87. The trade was a 4.82% 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 have sold a total of 47,650 shares of company stock valued at $5,668,823 in the last three months. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $118.31 on Friday. Cisco Systems, Inc. has a 12 month low of $65.75 and a 12 month high of $130.37. The firm has a market capitalization of $466.31 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 2.90 and a beta of 1.02. The firm has a fifty day simple moving average of $114.69 and a two-hundred day simple moving average of $91.87. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 13th. The network equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. Cisco Systems had a net margin of 20.14% and a return on equity of 28.44%. The company had revenue of $15.84 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Cisco Systems has set its Q4 2026 guidance at 1.160-1.180 EPS and its FY 2026 guidance at 4.270-4.290 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.54 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.68 annualized dividend and a dividend yield of 1.4%. Cisco Systems's payout ratio is presently 54.55%.

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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