Rep. Richard McCormick Sells Off Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Posted by Andrew Walz on Aug 18th, 2026

Representative Richard McCormick (Republican-Georgia) recently sold shares of Cisco Systems, Inc. (NASDAQ:CSCO). In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Cisco Systems stock on July 30th. The trade occurred in the Representative’s “GROWTH PARTNERS ROTH IRA” account.

Representative Richard McCormick also recently made the following trade(s):

Sold $1,001 – $15,000 in shares of Medtronic (NYSE:MDT) on 7/30/2026.
Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 7/30/2026.
Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 7/30/2026.
Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 7/30/2026.
Sold $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 7/30/2026.
Sold $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 7/30/2026.
Sold $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 7/30/2026.
Sold $1,001 – $15,000 in shares of Intercontinental Exchange (NYSE:ICE) on 7/30/2026.
Sold $1,001 – $15,000 in shares of Illinois Tool Works (NYSE:ITW) on 7/30/2026.
Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 7/30/2026.

Cisco Systems Trading Up 1.1%

NASDAQ:CSCO opened at $112.90 on Tuesday. The stock has a market cap of $444.99 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.38 and a beta of 1.02. 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 company’s 50 day moving average price is $116.81 and its 200-day moving average price is $99.48. Cisco Systems, Inc. has a 52 week low of $65.75 and a 52 week high of $130.37.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $17.25 billion during the quarter, compared to analyst estimates of $16.84 billion. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. 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 research analysts forecast that Cisco Systems, Inc. will post 4.09 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Key Headlines Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

Positive Sentiment: Cisco reported record quarterly revenue of approximately $17.3 billion, up 18% year over year, while non-GAAP earnings per share reached $1.22 and surpassed consensus estimates. Management also issued an optimistic fiscal 2027 outlook, supporting the growth case. Why Cisco Stock Is Down Today
Positive Sentiment: Analysts and market commentators characterize the roughly 8% post-earnings decline as an overreaction, arguing that Cisco’s improving AI networking opportunity and strong results may provide support for the shares. Cisco: This 8% Selloff Looks Like An Overreaction
Neutral Sentiment: The latest quarter benefited from higher hardware prices, a heavier product mix and pricing actions intended to offset rising memory costs. However, those same memory expenses and the hardware mix pressured product margins, creating a key profitability concern for investors. Cisco Grew Faster By Selling Hardware and Charging More for It
Neutral Sentiment: Several reports highlighted exchange-traded funds that provide exposure to Cisco’s AI-driven growth while reducing the risk of holding the individual stock, indicating continued interest in the company but also investor caution after the selloff. ETFs to Buy as Cisco Shares Sink
Negative Sentiment: HSBC downgraded Cisco to Hold, which may limit near-term upside and reflects caution regarding the stock’s valuation and post-earnings performance. Cisco Systems Cut to Hold at HSBC
Negative Sentiment: CEO Charles Robbins and three other insiders sold a combined 38,045 shares for approximately $4.25 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans and the executives retained substantial holdings, the sales are a modest negative signal rather than a clear change in management’s outlook.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Citic Securities upped their price target on Cisco Systems from $90.00 to $130.00 in a report on Friday, May 15th. Wells Fargo & Company boosted their target price on Cisco Systems from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore raised their price target on shares of Cisco Systems from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $95.00 to $96.00 in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Check Out Our Latest Research Report on CSCO

Insider Transactions at Cisco Systems

In related news, insider Jeetendra I. 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 transaction of $799,956.90. Following the sale, the insider owned 230,593 shares in the company, valued at approximately $25,727,261.01. This represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Oliver Tuszik sold 2,760 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $112.46, for a total transaction of $310,389.60. Following the completion of the sale, the executive vice president owned 165,276 shares of the company’s stock, valued at $18,586,938.96. This trade represents a 1.64% 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 have sold 69,179 shares of company stock worth $7,985,229 in the last quarter. Company insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds and other institutional investors have recently modified their holdings of CSCO. MidAtlantic Capital Management Inc. bought a new stake in shares of Cisco Systems in the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $25,000. Networth Advisors LLC grew its holdings in shares of Cisco Systems by 276.4% in the first quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider’s stock valued at $26,000 after purchasing an additional 246 shares in the last quarter. Financial Life Planners bought a new stake in Cisco Systems in the first quarter worth $27,000. Finally, Manning & Napier Advisors LLC increased its holdings in shares of Cisco Systems by 137.0% in the 1st quarter. Manning & Napier Advisors LLC now owns 346 shares of the network equipment provider’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia’s 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 7th Congressional District. He declared candidacy for the 2026 election.

Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick’s career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

About Cisco Systems

(Get Free Report)

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.