ICONIQ Capital LLC Increases Position in Cisco Systems, Inc. $CSCO

Key Points

• ICONIQ Capital LLC increased its stake in Cisco Systems by 26.9%, owning a total of 18,972 shares valued at approximately $1,171,000 as of the latest SEC filing.
• Cisco Systems reported earnings of $0.99 per share for the quarter, surpassing analyst expectations, with revenues totaling $14.67 billion, up 7.6% year-over-year.
• The company announced a quarterly dividend of $0.41 per share, representing a 2.4% yield, to be paid on October 22nd, with a record date of October 3rd.

ICONIQ Capital LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 26.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,972 shares of the network equipment provider's stock after buying an additional 4,017 shares during the quarter. ICONIQ Capital LLC's holdings in Cisco Systems were worth $1,171,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS boosted its holdings in Cisco Systems by 0.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after purchasing an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Cisco Systems by 10.8% during the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after purchasing an additional 612 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after purchasing an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario raised its position in shares of Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Cisco Systems by 2.6% in the 1st quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock valued at $6,882,000 after acquiring an additional 2,839 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.4%

NASDAQ CSCO opened at $67.32 on Friday. The firm has a market cap of $266.59 billion, a PE ratio of 25.69, a P/E/G ratio of 2.87 and a beta of 0.91. The firm's fifty day moving average is $68.20 and its two-hundred day moving average is $63.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Cisco Systems, Inc. has a one year low of $47.85 and a one year high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued 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 yield of 2.4%. Cisco Systems's payout ratio is currently 62.60%.

Analysts Set New Price Targets

A number of analysts have commented on CSCO shares. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. William Blair raised shares of Cisco Systems to a "hold" rating in a research report on Thursday, August 14th. Piper Sandler increased their price objective on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Barclays raised their price target on shares of Cisco Systems from $66.00 to $71.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Finally, KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.53.

Insider Activity

In related news, SVP Maria Victoria Wong sold 475 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $68.61, for a total transaction of $32,589.75. Following the sale, the senior vice president owned 34,630 shares of the company's stock, valued at approximately $2,375,964.30. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the sale, the executive vice president directly owned 161,467 shares in the company, valued at approximately $10,792,454.28. This represents a 4.44% 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 quarter. 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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