Cisco Systems, Inc. $CSCO Shares Sold by Central Pacific Bank Trust Division

Key Points

• Central Pacific Bank Trust Division cut its Cisco stake by 17.9% in the third quarter, selling 9,394 shares and retaining 43,025 shares valued at approximately $4.63 million. Institutional investors collectively own 73.33% of Cisco’s stock.
• Cisco reported quarterly revenue of $17.25 billion and EPS of $1.22, exceeding analyst expectations, while revenue increased 17.6% year over year. The company also declared a quarterly dividend of $0.42 per share, representing a 1.5% yield.
• Analyst sentiment remains positive but mixed: Cisco has a consensus rating of “Moderate Buy” and an average price target of $128.52, while recent targets ranged from $120 to $138. Shares opened at $112.82.

Central Pacific Bank Trust Division decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,025 shares of the network equipment provider's stock after selling 9,394 shares during the quarter. Central Pacific Bank Trust Division's holdings in Cisco Systems were worth $4,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Cisco Systems during the 2nd quarter worth about $42,129,647,000. State Street Corp grew its position in Cisco Systems by 7.0% during the second quarter. State Street Corp now owns 207,106,569 shares of the network equipment provider's stock valued at $25,278,492,000 after buying an additional 13,512,872 shares during the period. Invesco Ltd. raised its position in Cisco Systems by 11.6% in the fourth quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider's stock worth $4,609,227,000 after acquiring an additional 6,224,062 shares during the period. Auto Owners Insurance Co grew its position in shares of Cisco Systems by 8,718.3% during the 4th quarter. Auto Owners Insurance Co now owns 51,952,421 shares of the network equipment provider's stock valued at $400,190,000 after acquiring an additional 51,363,281 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Cisco Systems by 18.0% in the fourth quarter. Franklin Resources Inc. now owns 50,320,905 shares of the network equipment provider's stock valued at $3,876,219,000 after purchasing an additional 7,679,422 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Up 0.6%

Shares of Cisco Systems stock opened at $112.82 on Tuesday. The company's 50-day moving average price is $111.96 and its 200-day moving average price is $106.88. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 12-month low of $66.81 and a 12-month high of $130.37. The company has a market cap of $444.80 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.35 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. The business had revenue of $17.25 billion for the quarter, compared to analysts' expectations of $16.84 billion. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. 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. On average, equities analysts expect that Cisco Systems, Inc. will post 4.41 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is 50.30%.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 2,760 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.46, for a total value of $310,389.60. Following the transaction, the executive vice president directly owned 165,276 shares in the company, valued at approximately $18,586,938.96. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,628 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $111.54, for a total transaction of $2,412,387.12. Following the completion of the transaction, the chief executive officer directly owned 602,710 shares of the company's stock, valued at approximately $67,226,273.40. This represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,869 shares of company stock valued at $5,005,620 in the last ninety days. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HSBC lowered Cisco Systems from a "buy" rating to a "hold" rating and lowered their target price for the company from $137.00 to $120.00 in a research note on Friday, August 14th. UBS Group upped their price objective on shares of Cisco Systems from $132.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Barclays lifted their target price on shares of Cisco Systems from $121.00 to $123.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Piper Sandler dropped their price target on shares of Cisco Systems from $132.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 22nd. Finally, Wall Street Zen lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.52.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that develops networking, cybersecurity, collaboration, observability and data center solutions. Its products and services help businesses, governments, educational institutions and other organizations connect users and devices, manage infrastructure, protect digital environments and support cloud-based operations.

Cisco's portfolio includes routers and switches, wireless networking equipment, network management software, firewalls, identity and access tools, endpoint security products, collaboration applications and observability platforms.

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