Grimes & Company Inc. Has $16.47 Million Stake in Cisco Systems, Inc. $CSCO

Key Points

• Grimes & Company Inc. has reduced its stake in Cisco Systems by 3.5% in the 2nd quarter, holding 237,431 shares valued at approximately $16.47 million after selling 8,518 shares.
• Recently, several analysts have raised their price targets for Cisco Systems, with an average target price of $74.53 and a consensus rating of "Moderate Buy".
• Cisco Systems reported earnings of $0.99 per share for the quarter, exceeding analysts' expectations, along with a revenue of $14.67 billion, up 7.6% year-over-year.

Grimes & Company Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,431 shares of the network equipment provider's stock after selling 8,518 shares during the quarter. Grimes & Company Inc.'s holdings in Cisco Systems were worth $16,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its holdings in Cisco Systems by 0.7% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after buying an additional 6,501 shares during the period. Golden State Wealth Management LLC increased its holdings in Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares during the period. Acadian Asset Management LLC increased its holdings in Cisco Systems by 255.9% in the 1st quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider's stock valued at $482,509,000 after buying an additional 5,622,672 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Cisco Systems by 28.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after buying an additional 904,548 shares during the period. Finally, Banque Pictet & Cie SA increased its holdings in Cisco Systems by 1.0% in the 2nd quarter. Banque Pictet & Cie SA now owns 55,168 shares of the network equipment provider's stock valued at $3,813,000 after buying an additional 535 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. William Blair raised shares of Cisco Systems to a "hold" rating in a report on Thursday, August 14th. CICC Research began coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an "outperform" rating and a $78.00 price target on the stock. KeyCorp began coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. Finally, Morgan Stanley increased their target price on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $74.53.

Cisco Systems Stock Down 0.6%

Cisco Systems stock opened at $67.92 on Monday. 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, Inc. has a 12-month low of $52.11 and a 12-month high of $72.55. The firm's fifty day moving average is $68.10 and its 200 day moving average is $64.62. The company has a market capitalization of $268.50 billion, a PE ratio of 25.92, a PEG ratio of 2.85 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the company earned $0.87 EPS. Cisco Systems's quarterly revenue 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. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS 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 dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems's payout ratio is 62.60%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 428 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $68.25, for a total transaction of $29,211.00. Following the completion of the sale, the senior vice president owned 30,619 shares in the company, valued at approximately $2,089,746.75. The trade was a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $68.08, for a total transaction of $185,041.44. Following the sale, the executive vice president owned 157,184 shares of the company's stock, valued at $10,701,086.72. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock worth $5,559,996 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

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.

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