Tompkins Financial Corp Reduces Position in Cisco Systems, Inc. $CSCO

Tompkins Financial Corp reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,578 shares of the network equipment provider’s stock after selling 5,803 shares during the quarter. Cisco Systems accounts for about 1.7% of Tompkins Financial Corp’s investment portfolio, making the stock its 15th biggest holding. Tompkins Financial Corp’s holdings in Cisco Systems were worth $23,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Cisco Systems in the 2nd quarter worth $42,129,647,000. State Street Corp lifted its holdings in shares of Cisco Systems by 7.0% during the second quarter. State Street Corp now owns 207,106,569 shares of the network equipment provider’s stock valued at $25,278,492,000 after purchasing an additional 13,512,872 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Cisco Systems during the second quarter valued at $5,892,379,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cisco Systems by 2.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,450,141 shares of the network equipment provider’s stock worth $5,103,654,000 after buying an additional 1,143,106 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Cisco Systems in the 2nd quarter worth about $4,714,574,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.02 on Monday, hitting $112.18. 5,734,133 shares of the company traded hands, compared to its average volume of 22,516,551. The business’s 50 day moving average price is $112.00 and its 200-day moving average price is $106.64. Cisco Systems, Inc. has a 52-week low of $66.81 and a 52-week high of $130.37. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $442.27 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.35 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $1.22 EPS for the quarter, topping 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 firm had revenue of $17.25 billion for the quarter, compared to the consensus estimate of $16.84 billion. During the same quarter last year, the company earned $0.99 earnings per share. The business’s revenue for the quarter 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. Equities analysts expect that Cisco Systems, Inc. will post 4.41 earnings per share for the current year.

Cisco Systems Announces Dividend

The company 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 dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.68 annualized dividend and a yield of 1.5%. Cisco Systems’s payout ratio is currently 50.30%.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra Patel sold 7,170 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 230,593 shares of the company’s stock, valued at approximately $25,727,261.01. This represents a 3.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,628 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were 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 in the company, valued at approximately $67,226,273.40. This represents a 3.46% decrease in their ownership of the stock. 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 three months, insiders have sold 44,869 shares of company stock valued at $5,005,620. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CSCO shares. Rosenblatt Securities upped their target price on shares of Cisco Systems from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. UBS Group increased their price objective on shares of Cisco Systems from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Truist Financial raised their target price on shares of Cisco Systems from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. 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 research report on Thursday, August 13th. Finally, Zacks Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.