The Manufacturers Life Insurance Company Sells 254,569 Shares of Cisco Systems, Inc. $CSCO

The Manufacturers Life Insurance Company trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,307,568 shares of the network equipment provider’s stock after selling 254,569 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cisco Systems were worth $388,508,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Intesa Sanpaolo Wealth Management acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Cisco Systems in the 4th quarter worth approximately $25,000. Networth Advisors LLC lifted its holdings in Cisco Systems by 276.4% in the 1st quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider’s stock worth $26,000 after purchasing an additional 246 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Cisco Systems by 137.0% during the first 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 during the period. Finally, Financial Life Planners acquired a new position in Cisco Systems during the first quarter valued at approximately $27,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

CSCO opened at $110.23 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $115.82 and its two-hundred day moving average price is $100.56. The firm has a market capitalization of $434.46 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Cisco Systems, Inc. has a 12-month low of $66.13 and a 12-month high of $130.37.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.The company had revenue of $17.25 billion during the quarter, compared to analyst estimates of $16.84 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The company’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. On average, equities analysts forecast that Cisco Systems, Inc. will post 4.51 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 1.5%. Cisco Systems’s dividend payout ratio is 50.30%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $95.00 to $96.00 in a research report on Monday, May 11th. Piper Sandler upped their price objective on shares of Cisco Systems from $86.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Bank of America raised their target price on shares of Cisco Systems from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Morgan Stanley lifted their target price on shares of Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Truist Financial boosted their target price on shares of Cisco Systems from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Oliver Tuszik sold 2,760 shares of the firm’s stock in a transaction 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 directly owned 165,276 shares in the company, valued at $18,586,938.96. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction dated 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 transaction, the chief executive officer owned 602,710 shares in the company, valued at approximately $67,226,273.40. The trade was a 3.46% 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. Over the last quarter, insiders sold 53,611 shares of company stock worth $6,066,680. 0.01% of the stock is currently owned by insiders.

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.