Cisco Systems, Inc. $CSCO Shares Sold by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. reduced its stake in Cisco Systems by 9.2%, selling 23,038 shares and ending with 226,359 shares valued at approximately $13.97 million.
• Analysts have raised Cisco's stock rating, with Deutsche Bank upgrading it to a "buy" and increasing the target price from $65 to $73.
• Cisco Systems declared a quarterly dividend of $0.41 per share, with a payout date on October 22, 2023, and a yield of 2.4%.

Flputnam Investment Management Co. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,359 shares of the network equipment provider's stock after selling 23,038 shares during the quarter. Flputnam Investment Management Co.'s holdings in Cisco Systems were worth $13,969,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Legacy Financial Group Inc. boosted its stake in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after buying an additional 169 shares during the last quarter. Capital Advantage Inc. boosted its position in Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after purchasing an additional 172 shares during the period. Avalon Trust Co grew its stake in Cisco Systems by 5.4% during the 1st quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider's stock worth $212,000 after buying an additional 177 shares during the last quarter. Rossmore Private Capital grew its stake in Cisco Systems by 0.3% during the 1st quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider's stock worth $4,272,000 after buying an additional 181 shares during the last quarter. Finally, GSG Advisors LLC grew its stake in Cisco Systems by 4.8% during the 1st quarter. GSG Advisors LLC now owns 4,023 shares of the network equipment provider's stock worth $234,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. New Street Research restated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $87.00 target price on shares of Cisco Systems in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.53.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president owned 174,669 shares in the company, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,095 shares of company stock valued at $7,841,167 over the last three months. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $69.09 on Friday. The business has a 50 day simple moving average of $68.47 and a 200 day simple moving average of $63.77. Cisco Systems, Inc. has a 52-week low of $47.85 and a 52-week high of $72.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market cap of $273.60 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.93 and a beta of 0.91.

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 analysts' consensus estimates of $0.98 by $0.01. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%.The business had revenue of $14.67 billion during the quarter, compared to analysts' expectations of $14.63 billion. During the same period in the prior year, the business earned $0.87 EPS. Cisco Systems's revenue for the quarter 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. Analysts anticipate that Cisco Systems, Inc. will post 3.04 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 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.4%. Cisco Systems's payout ratio is 62.60%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.