Cisco Systems, Inc. $CSCO Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 76.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,511 shares of the network equipment provider’s stock after selling 18,247 shares during the quarter. Cisco Systems accounts for approximately 1.0% of Thurston Springer Miller Herd & Titak Inc.’s portfolio, making the stock its 11th largest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Cisco Systems were worth $618,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. First Citizens Bank & Trust Co. raised its stake in shares of Cisco Systems by 8.1% during the third quarter. First Citizens Bank & Trust Co. now owns 312,280 shares of the network equipment provider’s stock valued at $33,611,000 after acquiring an additional 23,485 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Cisco Systems by 6.8% during the third quarter. Focus Financial Network Inc. now owns 37,313 shares of the network equipment provider’s stock worth $4,227,000 after purchasing an additional 2,363 shares during the period. Roberts Wealth Advisors LLC grew its stake in shares of Cisco Systems by 5.9% in the third quarter. Roberts Wealth Advisors LLC now owns 61,714 shares of the network equipment provider’s stock worth $6,642,000 after purchasing an additional 3,450 shares during the last quarter. XY Planning Network Inc. grew its stake in shares of Cisco Systems by 43.4% in the third quarter. XY Planning Network Inc. now owns 4,155 shares of the network equipment provider’s stock worth $447,000 after purchasing an additional 1,258 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in shares of Cisco Systems by 0.8% in the third quarter. Salem Investment Counselors Inc. now owns 271,027 shares of the network equipment provider’s stock worth $29,171,000 after purchasing an additional 2,090 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 21,628 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $111.54, for a total value of $2,412,387.12. Following the sale, the chief executive officer directly owned 602,710 shares of the company’s stock, valued at $67,226,273.40. This represents a 3.46% decrease in their ownership of the stock. 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, insider Jeetendra Patel sold 7,170 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $111.57, for a total value of $799,956.90. Following the completion of the transaction, the insider owned 230,593 shares of the company’s stock, valued at approximately $25,727,261.01. This trade represents a 3.02% 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. Insiders sold 44,869 shares of company stock valued at $5,005,620 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.8%

CSCO stock traded down $0.92 during trading on Wednesday, reaching $114.15. The company had a trading volume of 5,942,658 shares, compared to its average volume of 22,264,174. Cisco Systems, Inc. has a 52 week low of $68.57 and a 52 week high of $130.37. The company has a market cap of $450.06 billion, a P/E ratio of 34.21, a PEG ratio of 2.40 and a beta of 0.99. The business has a 50 day moving average of $112.04 and a 200 day moving average of $108.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%. The business had revenue of $17.25 billion for the quarter, compared to analysts’ expectations of $16.84 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s revenue was up 17.6% on a year-over-year basis. 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. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 4.42 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CSCO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research report on Wednesday, August 26th. UBS Group increased their price objective on Cisco Systems from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Truist Financial lifted their price objective on Cisco Systems from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their target price on Cisco Systems from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Freedom Capital raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Three research 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, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $128.52.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that develops networking, cybersecurity, collaboration, observability and data center solutions. Its products and services help businesses, governments, educational institutions and other organizations connect users and devices, manage infrastructure, protect digital environments and support cloud-based operations.

Cisco’s portfolio includes routers and switches, wireless networking equipment, network management software, firewalls, identity and access tools, endpoint security products, collaboration applications and observability platforms.