Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $29.83 Million Stock Position in Cisco Systems, Inc. $CSCO

Key Points

• Empirical Financial Services LLC increased its stake in Cisco Systems, Inc. by 3.5%, owning 429,952 shares valued at approximately $29.83 million, making Cisco the 25th largest position in their portfolio.
• Cisco has recently reported strong quarterly earnings, with $0.99 earnings per share, exceeding analysts' estimates, and indicated revenue growth of 7.6% year-over-year.
• The company declared a quarterly dividend of $0.41 per share, with a dividend yield of 2.4%, set to be paid on October 22nd, 2023.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 429,952 shares of the network equipment provider's stock after acquiring an additional 14,490 shares during the quarter. Cisco Systems makes up approximately 0.7% of Empirical Financial Services LLC d.b.a. Empirical Wealth Management's investment portfolio, making the stock its 25th largest position. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Cisco Systems were worth $29,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pandora Wealth Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at about $31,000. Nova Wealth Management Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at about $31,000. Brown Shipley& Co Ltd acquired a new stake in shares of Cisco Systems in the second quarter valued at about $32,000. Fairway Wealth LLC increased its position in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of Cisco Systems in the first quarter valued at about $36,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 0.6%

Shares of NASDAQ:CSCO opened at $68.31 on Friday. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $72.55. The stock has a market cap of $270.04 billion, a PE ratio of 26.07, a P/E/G ratio of 2.89 and a beta of 0.97. The business has a 50 day moving average of $68.12 and a 200-day moving average of $64.51. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data 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 27.06% and a net margin of 18.45%.The company had revenue of $14.67 billion during the quarter, compared to analysts' expectations of $14.63 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. Cisco Systems has set its Q1 2026 guidance at 0.970-0.990 EPS. FY 2026 guidance at 4.000-4.060 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSCO. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price on the stock. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Bank of America lifted their price target on Cisco Systems from $76.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Barclays lifted their price target on Cisco Systems from $66.00 to $71.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. lifted their price target on Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One equities research 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 data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $74.53.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,744 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $66.78, for a total value of $116,464.32. Following the completion of the sale, the executive vice president directly owned 158,009 shares in the company, valued at approximately $10,551,841.02. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 428 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $68.25, for a total value of $29,211.00. Following the completion of the sale, the senior vice president owned 30,619 shares of the company's stock, valued at approximately $2,089,746.75. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,965 shares of company stock valued at $5,559,996 in the last quarter. Company insiders own 0.01% of the company's stock.

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.

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