Greystone Financial Group LLC has made a significant investment in Cisco Systems, Inc. by acquiring 125,158 shares valued at approximately $8,563,000. This transaction occurred in the third quarter of 2023, as indicated in the company’s latest filing with the Securities and Exchange Commission.
Several other institutional investors have also increased their holdings in Cisco. For instance, Nabity Jensen Investment Management Inc raised its stake by 9.7%, now owning 3,334 shares worth $228,000 after adding 296 shares. Similarly, LS Investment Advisors LLC boosted its position by 25.7%, owning 31,355 shares valued at $2,145,000 after acquiring an additional 6,410 shares. City Holding Co. increased its stake by 3.8%, now holding 33,858 shares worth $2,317,000. Meanwhile, Motco’s investment rose by 0.4%, resulting in ownership of 93,864 shares valued at $6,422,000. Daymark Wealth Partners LLC also expanded its holdings by 1.9%, now owning 319,296 shares worth $21,846,000. Overall, institutional investors now control 73.33% of Cisco’s stock.
Analyst Ratings and Market Performance
Wall Street analysts have recently provided a range of assessments for Cisco’s stock. Barclays raised its price target from $71.00 to $76.00, maintaining an “equal weight” rating. In contrast, Piper Sandler increased its target from $70.00 to $86.00 while assigning a “neutral” rating. On the other hand, Wall Street Zen downgraded Cisco from a “buy” to a “hold” rating. Evercore ISI raised its price target from $74.00 to $80.00, giving it an “in-line” rating. Additionally, Bank of America adjusted its price objective from $85.00 to $95.00, labeling the stock as a “buy.” Currently, 17 research analysts rate Cisco as a buy, while nine have given it a hold rating, leading to a consensus rating of “Moderate Buy” with an average target price of $84.70, according to MarketBeat.com.
As of Monday, Cisco’s stock opened at $76.04, reflecting a decrease of 1.3%. The company’s market capitalization stands at $300.44 billion, with a price-to-earnings ratio of 28.59 and a price-to-earnings-growth ratio of 2.88. Over the past year, Cisco’s stock has fluctuated between a low of $52.11 and a high of $80.82.
Recent Financial Performance and Dividend Announcement
Cisco recently reported its earnings for the last quarter. The company achieved earnings per share (EPS) of $1.00, surpassing analysts’ expectations of $0.98. Revenue totaled $14.88 billion, exceeding the forecast of $14.77 billion. Cisco’s net margin stands at 18.38%, and its return on equity is 27.29%. The company also noted a year-over-year revenue increase of 7.5% from the previous year’s results, which posted an EPS of $0.91.
Looking ahead, Cisco has provided guidance for fiscal year 2026, estimating EPS between $4.080 and $4.140, while projecting Q2 2026 EPS between $1.010 and $1.030. Market analysts expect Cisco to report an EPS of $3.04 for the current year.
Additionally, Cisco announced a quarterly dividend of $0.41 per share, to be paid on January 21, 2024. Shareholders of record as of January 2, 2024, will receive this dividend, which translates to an annualized payout of $1.64 and a yield of 2.2%. Currently, Cisco’s payout ratio is 61.65%.
In related executive news, CEO Charles Robbins sold 281,860 shares in a transaction on November 17, 2023, at an average price of $78.35, totaling approximately $22,083,731. Following this sale, Robbins holds 820,887 shares valued at around $64,316,496.45, representing a 25.56% decrease in his position. Moreover, EVP Deborah L. Stahlkopf sold 164,584 shares on November 14, 2023, for a total of about $12,812,864.40. Insiders have collectively sold 1,044,865 shares worth approximately $81,397,635 over the past three months, with corporate insiders currently owning 0.01% of the stock.
Cisco Systems, Inc. is a global leader in networking hardware, software, and telecommunications equipment. The company focuses on enabling enterprise and service-provider networks, offering products such as routers, switches, and security appliances. Over the years, Cisco has expanded its offerings to include software-defined networking, cybersecurity, and cloud infrastructure solutions, aiming to support modern IT environments.
