Maloon Powers Pitre Higgins & Dennehy LLC Acquires New Shares in Cisco Systems, Inc. $CSCO

Key Points

• Maloon Powers Pitre Higgins & Dennehy LLC acquired 22,590 Cisco shares worth approximately $2.65 million, while institutional investors and hedge funds collectively own 73.33% of the stock.
• Cisco reported stronger-than-expected quarterly results, with $1.22 adjusted EPS and $17.25 billion in revenue, up 17.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $129.68.
• Cisco declared a quarterly dividend of $0.42 per share, representing a $1.68 annualized payout and a 1.5% yield; insiders sold 53,611 shares worth roughly $6.07 million during the latest quarter.

Maloon Powers Pitre Higgins & Dennehy LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,590 shares of the network equipment provider's stock, valued at approximately $2,653,000. Cisco Systems makes up approximately 0.9% of Maloon Powers Pitre Higgins & Dennehy LLC's investment portfolio, making the stock its 27th largest position.

Several other hedge funds have also recently bought and sold shares of CSCO. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Cisco Systems by 7.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider's stock worth $706,000 after purchasing an additional 712 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in Cisco Systems by 3.9% during the second quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider's stock worth $969,000 after purchasing an additional 519 shares during the period. Finally, Marshall Wace LLP grew its holdings in Cisco Systems by 118.1% during the second quarter. Marshall Wace LLP now owns 90,650 shares of the network equipment provider's stock valued at $6,289,000 after purchasing an additional 590,650 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jeetendra I. Patel sold 7,170 shares of Cisco Systems stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $111.57, for a total transaction of $799,956.90. Following the sale, the insider owned 230,593 shares of the company's stock, valued at approximately $25,727,261.01. This trade represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Oliver Tuszik sold 2,760 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $112.46, for a total value of $310,389.60. Following the sale, the executive vice president owned 165,276 shares in the company, valued at approximately $18,586,938.96. This represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 53,611 shares of company stock valued at $6,066,680 in the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Up 0.5%

Shares of Cisco Systems stock opened at $109.20 on Friday. The company's fifty day simple moving average is $114.26 and its 200-day simple moving average is $102.20. The company has a market cap of $430.41 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 2.26 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1 year low of $66.13 and a 1 year high of $130.37.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The firm had revenue of $17.25 billion during the quarter, compared to analysts' expectations of $16.84 billion. During the same period in the prior year, the company earned $0.99 EPS. The business's quarterly revenue was up 17.6% compared to the same quarter last year. Cisco Systems has set its FY 2027 guidance at 5.050-5.110 EPS and its Q1 2027 guidance at 1.320-1.340 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 4.43 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is presently 50.30%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Cisco Systems in a research note on Wednesday, August 26th. Barclays raised their target price on shares of Cisco Systems from $121.00 to $123.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. Morgan Stanley boosted their target price on shares of Cisco Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Evercore upped their price target on shares of Cisco Systems from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Finally, The Goldman Sachs Group raised their price target on Cisco Systems from $116.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.68.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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