Patten & Patten Inc. TN Sells 43,203 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Patten & Patten Inc. has reduced its holdings in Cisco Systems, selling 43,203 shares and now owns 124,433 shares, worth approximately $8.63 million.
• In the second quarter, Cisco Systems reported an earnings per share (EPS) of $0.99, exceeding the consensus estimate by $0.01, with revenues of $14.67 billion.
• Cisco Systems announced a quarterly dividend of $0.41 per share, which will be paid on October 22nd, reflecting a yield of 2.4%.

Patten & Patten Inc. TN lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 25.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,433 shares of the network equipment provider's stock after selling 43,203 shares during the period. Patten & Patten Inc. TN's holdings in Cisco Systems were worth $8,633,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Cisco Systems by 0.5% during the first quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider's stock worth $24,002,095,000 after acquiring an additional 1,865,648 shares during the period. Invesco Ltd. raised its position in shares of Cisco Systems by 10.4% in the first quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider's stock valued at $2,907,599,000 after buying an additional 4,437,450 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Cisco Systems by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider's stock valued at $2,898,722,000 after buying an additional 12,775,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cisco Systems by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,797,629 shares of the network equipment provider's stock valued at $2,332,492,000 after buying an additional 1,326,354 shares in the last quarter. Finally, Amundi raised its position in shares of Cisco Systems by 11.0% in the first quarter. Amundi now owns 29,170,847 shares of the network equipment provider's stock valued at $1,679,312,000 after buying an additional 2,898,391 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 1.3%

Shares of CSCO opened at $69.52 on Thursday. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The company has a market cap of $274.83 billion, a P/E ratio of 26.53, a P/E/G ratio of 2.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $68.25 and a two-hundred day simple moving average of $65.01.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $14.67 billion during 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 27.06%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business 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. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 7,511 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $66.84, for a total transaction of $502,035.24. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeetendra I. Patel sold 9,061 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.60, for a total transaction of $603,462.60. Following the transaction, the insider owned 237,405 shares of the company's stock, valued at $15,811,173. This trade represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Cisco Systems from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. 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 research report on Thursday, August 14th. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $75.00 to $83.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Bank of America lifted their price target on shares of Cisco Systems from $76.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Finally, Hsbc Global Res downgraded shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.72.

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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