Nilsine Partners LLC Acquires 24,778 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Nilsine Partners increased its Cisco stake by 42.4% in the second quarter, acquiring 24,778 additional shares and ending with 83,161 shares valued at approximately $9.8 million. Hedge funds and other institutional investors own 73.33% of CSCO.
• Cisco exceeded quarterly expectations, reporting $1.22 in EPS and $17.25 billion in revenue, with 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, equivalent to $1.68 annually and a 1.5% yield. Company insiders, including the CEO, sold shares under pre-arranged Rule 10b5-1 trading plans during the past 90 days.

Nilsine Partners LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 42.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,161 shares of the network equipment provider's stock after acquiring an additional 24,778 shares during the quarter. Nilsine Partners LLC's holdings in Cisco Systems were worth $9,768,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CSCO. MidAtlantic Capital Management Inc. bought a new position in Cisco Systems in the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $25,000. Networth Advisors LLC boosted its holdings in shares of Cisco Systems by 276.4% in the 1st quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider's stock valued at $26,000 after buying an additional 246 shares in the last quarter. Financial Life Planners purchased a new position in shares of Cisco Systems in the 1st quarter worth approximately $27,000. Finally, Manning & Napier Advisors LLC raised its stake in shares of Cisco Systems by 137.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 346 shares of the network equipment provider's stock worth $27,000 after acquiring an additional 200 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.5%

Shares of Cisco Systems stock opened at $109.20 on Friday. The stock has a market cap of $430.41 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.28 and a beta of 1.00. The firm has a fifty day moving average price of $114.26 and a 200 day moving average price of $102.20. Cisco Systems, Inc. has a 1 year low of $66.13 and a 1 year high of $130.37. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.05. The business had revenue of $17.25 billion during the quarter, compared to analyst estimates of $16.84 billion. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.The company's revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. 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. Equities research analysts predict that Cisco Systems, Inc. will post 4.43 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Argus increased their price objective on Cisco Systems from $100.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Piper Sandler upped their target price on Cisco Systems from $86.00 to $132.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. New Street Research upped their target price on Cisco Systems from $82.00 to $122.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Zacks Research downgraded Cisco Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Rosenblatt Securities boosted their price target on Cisco Systems from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $129.68.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 7,170 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $111.57, for a total value of $799,956.90. Following the transaction, the insider owned 230,593 shares in the company, 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 SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,628 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $111.54, for a total transaction of $2,412,387.12. Following the completion of the transaction, the chief executive officer directly owned 602,710 shares in the company, valued at $67,226,273.40. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 ninety days. Company insiders own 0.01% of the company's stock.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source