Rep. Richard McCormick Sells Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Rep. Richard McCormick disclosed selling Cisco Systems shares worth between $1,001 and $15,000 on June 12, in his GROWTH PARTNERS IRA account.
• Cisco recently posted better-than-expected quarterly results, with EPS of $1.06 and revenue of $15.84 billion, while also raising guidance for Q4 2026 and FY 2026.
• The stock remains supported by a positive outlook tied to AI infrastructure, cybersecurity, and data center expansion, even as some coverage notes near-term trading-range behavior and occasional underperformance versus the broader market.

Representative Richard McCormick (Republican-Georgia) recently sold shares of Cisco Systems, Inc. NASDAQ: CSCO. In a filing disclosed on July 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in Cisco Systems stock on June 12th. The trade occurred in the Representative's "GROWTH PARTNERS IRA" account.

Representative Richard McCormick also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 6/12/2026.
• Sold $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 6/12/2026.
• Sold $1,001 - $15,000 in shares of BlackRock NYSE: BLK on 6/12/2026.
• Purchased $1,001 - $15,000 in shares of Intercontinental Exchange NYSE: ICE on 6/12/2026.
• Purchased $1,001 - $15,000 in shares of L3Harris Technologies NYSE: LHX on 6/12/2026.
• Sold $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 6/12/2026.
• Sold $1,001 - $15,000 in shares of American Tower NYSE: AMT on 4/17/2026.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $117.09 on Wednesday. Cisco Systems, Inc. has a one year low of $65.75 and a one year high of $130.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.81. The company has a market cap of $461.50 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 3.04 and a beta of 1.02. The firm has a 50 day simple moving average of $116.33 and a 200 day simple moving average of $92.74.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. Cisco Systems had a net margin of 20.14% and a return on equity of 28.44%. The company had revenue of $15.84 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period in the prior year, the business earned $0.96 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Cisco Systems has set its Q4 2026 guidance at 1.160-1.180 EPS and its FY 2026 guidance at 4.270-4.290 EPS. Research analysts predict that Cisco Systems, Inc. will post 3.54 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, July 6th. Cisco Systems's dividend payout ratio is currently 54.55%.

Key Stories Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

• Positive Sentiment: Investors are encouraged by Cisco’s exposure to AI infrastructure, with multiple articles highlighting strong demand for its networking gear and AI-focused products as a potential growth driver. Bull of the Day: Cisco Systems (CSCO)
• Positive Sentiment: Reports suggest Cisco may be circling cybersecurity firm SentinelOne, which could strengthen Cisco’s security portfolio and improve growth prospects if a deal materializes. Cisco (CSCO) Eyes SentinelOne As Italy And Bahrain Data Center Push Expands
• Positive Sentiment: Cisco is also expanding its data center footprint in Italy and Bahrain, reinforcing the company’s role in AI, cloud, and big-data infrastructure buildouts. Cisco (CSCO) Eyes SentinelOne As Italy And Bahrain Data Center Push Expands
• Positive Sentiment: Analysts and market commentary continue to frame Cisco as a beneficiary of rising AI security demand and as a relatively attractive valuation play versus peers. CRWD vs. CSCO: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Cisco President Jeetu Patel said AI will likely create more jobs than it eliminates, which supports the broader AI narrative but does not directly change fundamentals. Cisco President Says 'the Future Will Likely Have More Jobs' as AI Could Create More Work Than It Eliminates
• Neutral Sentiment: Some coverage says CSCO has been trading in a range and may be suitable for options strategies, suggesting the stock may still be consolidating rather than breaking out decisively. Cisco Systems Stock Is in a Trading Range - Good For Shorting Puts and Calls
• Negative Sentiment: Recent trading-day coverage noted Cisco shares underperformed the broader market, reflecting some near-term pressure despite the company’s longer-term AI story. Cisco Systems (CSCO) Stock Dips While Market Gains: Key Facts

Institutional Investors Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently made changes to their positions in CSCO. Intesa Sanpaolo Wealth Management acquired a new position in shares of Cisco Systems during the 4th quarter valued at $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $25,000. Networth Advisors LLC raised its holdings in shares of Cisco Systems by 276.4% during the first quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider's stock valued at $26,000 after purchasing an additional 246 shares during the period. Manning & Napier Advisors LLC boosted its position 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 purchasing an additional 200 shares in the last quarter. Finally, Financial Life Planners bought a new stake in Cisco Systems in the 1st quarter valued at about $27,000. Institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler upped their price target on shares of 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 boosted their price objective on shares of Cisco Systems from $82.00 to $122.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $95.00 to $96.00 in a report on Monday, May 11th. Evercore lifted their target price on Cisco Systems from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Finally, KeyCorp increased their price target on Cisco Systems from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.14.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 6,586 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $117.31, for a total value of $772,603.66. Following the transaction, the executive vice president directly owned 177,223 shares in the company, valued at $20,790,030.13. This trade represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya K. Subaiya sold 7,127 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $119.91, for a total transaction of $854,598.57. Following the sale, the executive vice president owned 140,857 shares of the company's stock, valued at $16,890,162.87. This trade represents a 4.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 47,650 shares of company stock valued at $5,668,823. 0.01% of the stock is currently owned by corporate insiders.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia's 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia's 7th Congressional District. He declared candidacy for the 2026 election. Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick's career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

About Cisco Systems

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.

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.