GRIMES & Co WEALTH MANAGEMENT LLC Sells 34,606 Shares of Cisco Systems, Inc. $CSCO

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.7% during the third quarter, Holdings Channel reports. The firm owned 200,607 shares of the network equipment provider’s stock after selling 34,606 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Cisco Systems were worth $21,591,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CSCO. BlackRock Inc. bought a new position in Cisco Systems in the second quarter worth about $42,129,647,000. Bank of America Corp DE bought a new position in shares of Cisco Systems during the second quarter valued at approximately $5,892,379,000. Bank of New York Mellon Corp bought a new position in shares of Cisco Systems during the second quarter valued at approximately $4,714,574,000. Deutsche Bank AG acquired a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $1,997,004,000. Finally, State Street Corp raised its position in shares of Cisco Systems by 7.0% during the 2nd quarter. State Street Corp now owns 207,106,569 shares of the network equipment provider’s stock worth $25,278,492,000 after purchasing an additional 13,512,872 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO opened at $101.61 on Tuesday. The company has a 50-day moving average price of $109.81 and a two-hundred day moving average price of $101.14. Cisco Systems, Inc. has a 52 week low of $70.54 and a 52 week high of $130.37. The stock has a market cap of $400.61 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.30 and a beta of 0.99. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%. The company had revenue of $17.25 billion for the quarter, compared to analysts’ expectations of $16.84 billion. During the same quarter in the previous year, the company posted $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. Analysts forecast that Cisco Systems, Inc. will post 4.42 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, October 2nd. Cisco Systems’s payout ratio is 50.30%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley raised their price target on Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. UBS Group upped their price objective on Cisco Systems from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cisco Systems in a research note on Wednesday, August 26th. Finally, Zacks Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $128.52.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 21,628 shares of the 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 completion of the transaction, the chief executive officer owned 602,710 shares in the company, valued at $67,226,273.40. This represents a 3.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeetendra I. Patel sold 7,170 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $111.57, for a total transaction of $799,956.90. Following the transaction, the insider directly owned 230,593 shares in the company, valued at approximately $25,727,261.01. The trade was 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 have sold a total of 44,869 shares of company stock worth $5,005,620 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that develops networking, cybersecurity, collaboration and observability solutions for businesses, government organizations and service providers. Its offerings include routers, switches, wireless networking equipment, data-center infrastructure, security software and services, as well as technologies that support cloud and hybrid IT environments.

The company also provides collaboration tools through its Webex portfolio, cloud-managed networking through Cisco Meraki and security and observability capabilities that include technologies from Splunk, which Cisco acquired in 2024.