Studio Investment Management LLC Sells 7,397 Shares of Cisco Systems, Inc. $CSCO

Studio Investment Management LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.5% during the second quarter, Holdings Channel reports. The institutional investor owned 56,891 shares of the network equipment provider’s stock after selling 7,397 shares during the quarter. Cisco Systems comprises about 1.1% of Studio Investment Management LLC’s investment portfolio, making the stock its 21st biggest position. Studio Investment Management LLC’s holdings in Cisco Systems were worth $6,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSCO. BlackRock Inc. bought a new position in shares of Cisco Systems during the 2nd quarter worth about $42,129,647,000. State Street Corp increased its stake in Cisco Systems by 0.5% in the fourth quarter. State Street Corp now owns 195,521,161 shares of the network equipment provider’s stock valued at $15,060,995,000 after acquiring an additional 1,057,962 shares during the period. Morgan Stanley raised its position in Cisco Systems by 0.3% in the fourth quarter. Morgan Stanley now owns 75,326,258 shares of the network equipment provider’s stock worth $5,802,382,000 after purchasing an additional 206,352 shares in the last quarter. Invesco Ltd. lifted its stake in Cisco Systems by 11.6% during the fourth quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider’s stock worth $4,609,227,000 after purchasing an additional 6,224,062 shares during the period. Finally, Norges Bank acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $4,473,272,000. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jeetendra I. Patel sold 7,170 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $111.57, for a total value of $799,956.90. Following the sale, the insider directly owned 230,593 shares in the company, valued at $25,727,261.01. This trade represents a 3.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Deborah L. Stahlkopf sold 6,487 shares of Cisco Systems stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $111.53, for a total transaction of $723,495.11. Following the transaction, the executive vice president directly owned 167,116 shares in the company, valued at $18,638,447.48. The trade was a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,611 shares of company stock valued at $6,066,680 in the last ninety days. 0.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Cisco Systems in a report on Tuesday, September 1st. They set a “buy” rating and a $135.00 price objective for the company. CICC Research increased their target price on shares of Cisco Systems from $96.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. Truist Financial boosted their price target on shares of Cisco Systems from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Citigroup raised their price objective on shares of Cisco Systems from $90.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.68.

Cisco Systems Price Performance

Shares of CSCO opened at $109.20 on Monday. The business’s fifty day moving average price is $114.26 and its two-hundred day moving average price is $102.38. The firm has a market capitalization of $430.53 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 2.28 and a beta of 1.00. Cisco Systems, Inc. has a 52 week low of $66.13 and a 52 week high of $130.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 0.93.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.05. The business had revenue of $17.25 billion for the quarter, compared to analysts’ expectations of $16.84 billion. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. 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, analysts predict that Cisco Systems, Inc. will post 4.43 earnings per share for the current year.

Cisco Systems Announces Dividend

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

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.