Edgar Lomax Co. VA Sells 461,275 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Edgar Lomax Co. VA has reduced its holdings in Cisco Systems, Inc. by 41.5% during the first quarter, now owning 649,148 shares worth approximately $40 million.
• Cisco Systems reported a quarterly earnings per share (EPS) of $0.99, slightly beating expectations, with revenue of $14.67 billion, a 7.6% increase year-over-year.
• The company announced a quarterly dividend of $0.41 per share, representing a 2.5% yield, with the payment date set for October 22nd.

Edgar Lomax Co. VA lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 41.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 649,148 shares of the network equipment provider's stock after selling 461,275 shares during the period. Cisco Systems comprises about 2.5% of Edgar Lomax Co. VA's investment portfolio, making the stock its 16th biggest holding. Edgar Lomax Co. VA's holdings in Cisco Systems were worth $40,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Korea Investment CORP boosted its stake in shares of Cisco Systems by 3.7% during the 1st quarter. Korea Investment CORP now owns 3,078,475 shares of the network equipment provider's stock valued at $189,973,000 after buying an additional 110,896 shares during the period. Alpha Family Trust boosted its stake in shares of Cisco Systems by 3.2% during the 1st quarter. Alpha Family Trust now owns 31,305 shares of the network equipment provider's stock valued at $1,932,000 after buying an additional 960 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of Cisco Systems by 17.6% during the 1st quarter. Aptus Capital Advisors LLC now owns 165,887 shares of the network equipment provider's stock valued at $10,237,000 after buying an additional 24,844 shares during the period. Granite Harbor Advisors Inc. boosted its stake in shares of Cisco Systems by 7.7% during the 1st quarter. Granite Harbor Advisors Inc. now owns 12,700 shares of the network equipment provider's stock valued at $784,000 after buying an additional 908 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Cisco Systems by 37.9% during the 1st quarter. Brooklyn Investment Group now owns 28,085 shares of the network equipment provider's stock valued at $1,733,000 after buying an additional 7,722 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. HSBC reissued a "hold" rating and set a $69.00 target price on shares of Cisco Systems in a research note on Friday, August 15th. Rosenblatt Securities reiterated a "buy" rating and issued a $87.00 price objective on shares of Cisco Systems in a report on Thursday, August 14th. Morgan Stanley upped their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Evercore ISI upped their price objective on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an "in-line" rating in a report on Thursday, August 14th. Finally, Piper Sandler upped their price objective on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $74.53.

Insider Buying and Selling at Cisco Systems

In other news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeetendra I. Patel sold 9,061 shares of the company's stock in a transaction dated 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 directly owned 237,405 shares of the company's stock, valued at $15,811,173. This represents a 3.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,118 shares of company stock valued at $8,847,167 in the last three months. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.09 on Thursday, reaching $67.02. 12,443,170 shares of the stock were exchanged, compared to its average volume of 21,529,266. The stock has a market cap of $265.40 billion, a PE ratio of 25.58, a PEG ratio of 2.84 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a twelve month low of $47.85 and a twelve month high of $72.55. The firm has a fifty day moving average price of $68.09 and a two-hundred day moving average price of $63.47.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. The business had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. Cisco Systems has set its Q1 2026 guidance at 0.970-0.990 EPS. FY 2026 guidance at 4.000-4.060 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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

Cisco Systems Company 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.