Truist Financial Corp Grows Stock Holdings in Cisco Systems, Inc. $CSCO

Key Points

• Truist Financial Corp increased its holdings in Cisco Systems by 6.8%, acquiring an additional 239,917 shares, bringing its total ownership to approximately 3.7 million shares valued at $259.97 million.
• Recent analyst reports show a mixed outlook for Cisco, with price targets adjusted upward by several firms, including Piper Sandler and Barclays, while Wall Street Zen downgraded the stock from "strong-buy" to "buy."
• Cisco announced a quarterly dividend of $0.41 per share, which will be paid on October 22nd, reflecting an annualized yield of 2.4%.

Truist Financial Corp raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,747,086 shares of the network equipment provider's stock after buying an additional 239,917 shares during the period. Truist Financial Corp owned about 0.09% of Cisco Systems worth $259,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First United Bank & Trust boosted its holdings in Cisco Systems by 2.5% in the second quarter. First United Bank & Trust now owns 25,347 shares of the network equipment provider's stock valued at $1,759,000 after purchasing an additional 610 shares during the period. Chicago Capital LLC boosted its holdings in Cisco Systems by 6.1% in the second quarter. Chicago Capital LLC now owns 55,496 shares of the network equipment provider's stock valued at $3,850,000 after purchasing an additional 3,215 shares during the period. One Wealth Advisors LLC boosted its holdings in Cisco Systems by 9.6% in the second quarter. One Wealth Advisors LLC now owns 9,614 shares of the network equipment provider's stock valued at $667,000 after purchasing an additional 846 shares during the period. Trivium Point Advisory LLC boosted its holdings in Cisco Systems by 19.3% in the second quarter. Trivium Point Advisory LLC now owns 25,136 shares of the network equipment provider's stock valued at $1,744,000 after purchasing an additional 4,070 shares during the period. Finally, Emerald Advisors LLC boosted its holdings in Cisco Systems by 3.5% in the second quarter. Emerald Advisors LLC now owns 22,547 shares of the network equipment provider's stock valued at $1,564,000 after purchasing an additional 761 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of recent research reports. Piper Sandler lifted their target price on Cisco Systems from $64.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Wolfe Research initiated coverage on Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Barclays lifted their price target on Cisco Systems from $66.00 to $71.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, UBS Group lifted their price target on Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.53.

Insider Buying and Selling at Cisco Systems

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

Cisco Systems Stock Up 1.0%

CSCO opened at $68.42 on Wednesday. The business's 50-day simple moving average is $68.12 and its 200-day simple moving average is $64.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The stock has a market capitalization of $270.48 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The business had revenue of $14.67 billion for the quarter, compared to analysts' expectations of $14.63 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business's 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. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.