Cullen Capital Management LLC Sells 1,087,878 Shares of Cisco Systems, Inc. $CSCO

Cullen Capital Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 29.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,557,662 shares of the network equipment provider’s stock after selling 1,087,878 shares during the period. Cisco Systems makes up about 3.0% of Cullen Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Cullen Capital Management LLC owned approximately 0.06% of Cisco Systems worth $300,423,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Whalen Wealth Management Inc. increased its stake in Cisco Systems by 1.2% in the 2nd quarter. Whalen Wealth Management Inc. now owns 8,545 shares of the network equipment provider’s stock worth $1,004,000 after purchasing an additional 98 shares in the last quarter. Algert Global LLC purchased a new stake in Cisco Systems during the second quarter valued at about $301,000. D.B. Root & Company LLC boosted its holdings in shares of Cisco Systems by 2.1% in the second quarter. D.B. Root & Company LLC now owns 12,115 shares of the network equipment provider’s stock worth $1,423,000 after buying an additional 249 shares during the period. Asset One Wealth Management LLC boosted its holdings in shares of Cisco Systems by 1.4% in the second quarter. Asset One Wealth Management LLC now owns 10,560 shares of the network equipment provider’s stock worth $1,180,000 after buying an additional 145 shares during the period. Finally, Safeguard Investment Advisory Group LLC increased its position in shares of Cisco Systems by 3.8% in the second quarter. Safeguard Investment Advisory Group LLC now owns 6,268 shares of the network equipment provider’s stock worth $736,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 7,170 shares of the stock in a transaction on 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 of the company’s stock, valued at $25,727,261.01. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya K. Subaiya sold 5,832 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $111.47, for a total value of $650,093.04. Following the transaction, the executive vice president owned 128,382 shares in the company, valued at approximately $14,310,741.54. This trade represents a 4.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 53,611 shares of company stock valued at $6,066,680 in the last three months. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.7%

NASDAQ:CSCO opened at $110.23 on Tuesday. The company has a market capitalization of $434.46 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.14 and a beta of 1.02. The stock’s 50 day moving average price is $115.82 and its 200 day moving average price is $100.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 0.93. Cisco Systems, Inc. has a 52 week low of $66.13 and a 52 week high of $130.37.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. The firm had revenue of $17.25 billion during the quarter, compared to analysts’ expectations of $16.84 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The company’s revenue 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. On average, research analysts forecast that Cisco Systems, Inc. will post 4.51 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BNP Paribas Exane upped their price target on shares of Cisco Systems from $87.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Argus boosted their target price on shares of Cisco Systems from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. HSBC lowered Cisco Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $137.00 to $120.00 in a report on Friday, August 14th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $95.00 to $96.00 in a report on Monday, May 11th. Finally, New Street Research upped their price target on Cisco Systems from $82.00 to $122.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.43.

Cisco Systems Profile

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.