Corebridge Financial Inc. Sells 47,991 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Corebridge Financial Inc. has reduced its holdings in Cisco Systems by 3.6%, selling 47,991 shares and maintaining a total of 1,293,012 shares, valued at approximately $79.8 million.
• Insider selling at Cisco included significant transactions from executives, with EVP Deborah L. Stahlkopf selling 9,783 shares at an average price of $66.60, representing a 5.71% decrease in her ownership.
• Cisco recently reported $0.99 earnings per share (EPS) for the last quarter, surpassing estimates and showing a 7.6% increase in revenue year-over-year, with a new quarterly dividend of $0.41 per share to be paid on October 22nd.

Corebridge Financial Inc. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,293,012 shares of the network equipment provider's stock after selling 47,991 shares during the period. Cisco Systems accounts for approximately 0.5% of Corebridge Financial Inc.'s holdings, making the stock its 26th largest position. Corebridge Financial Inc.'s holdings in Cisco Systems were worth $79,792,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Pandora Wealth Inc. bought a new position in Cisco Systems during the first quarter worth about $31,000. Finally, Fairway Wealth LLC grew its holdings 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 purchasing an additional 400 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,783 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $66.60, for a total transaction of $651,547.80. Following the completion of the transaction, the executive vice president directly owned 161,662 shares in the company, valued at $10,766,689.20. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeetendra I. Patel sold 9,061 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $66.60, for a total transaction of $603,462.60. Following the transaction, the insider 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 135,118 shares of company stock valued at $8,847,167. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. William Blair upgraded Cisco Systems to a "hold" rating in a report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on Cisco Systems from $75.00 to $83.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Hsbc Global Res cut Cisco Systems from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. KeyCorp assumed coverage on Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.53.

Cisco Systems Trading Up 0.4%

Shares of CSCO stock opened at $67.32 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $266.59 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91. The stock has a 50 day simple moving average of $68.20 and a 200 day simple moving average of $63.57. Cisco Systems, Inc. has a 1 year low of $47.85 and a 1 year high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company posted $0.87 earnings per share. The firm'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. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems's payout ratio is currently 62.60%.

Cisco Systems Profile

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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