Lorne Steinberg Wealth Management Inc. Sells 675 Shares of Cisco Systems, Inc. $CSCO

Lorne Steinberg Wealth Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,293 shares of the network equipment provider’s stock after selling 675 shares during the period. Cisco Systems makes up approximately 2.1% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 19th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Cisco Systems were worth $7,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Connections Group Inc. boosted its stake in shares of Cisco Systems by 89.4% in the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after buying an additional 193 shares during the period. Pandora Wealth Inc. bought a new stake in shares of Cisco Systems during the 1st quarter valued at $31,000. Nova Wealth Management Inc. acquired a new stake in shares of Cisco Systems during the 1st quarter worth $31,000. Brown Shipley& Co Ltd bought a new position in shares of Cisco Systems in the second quarter worth $32,000. Finally, Fairway Wealth LLC raised its stake in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CSCO. Piper Sandler increased their price objective on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Wolfe Research began coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating for the company. Rosenblatt Securities reissued a “buy” rating and issued a $87.00 price objective on shares of Cisco Systems in a research note on Thursday, August 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Cisco Systems in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on Cisco Systems from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.72.

Cisco Systems Price Performance

CSCO stock opened at $70.13 on Monday. The stock has a market cap of $277.24 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. The company has a 50 day simple moving average of $68.20 and a 200 day simple moving average of $65.19. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $72.55.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Cisco Systems has set its Q1 2026 guidance at 0.970-0.990 EPS. FY 2026 guidance at 4.000-4.060 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s dividend payout ratio is presently 62.60%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 30,557 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $66.63, for a total value of $2,036,012.91. Following the completion of the transaction, the chief executive officer owned 639,000 shares in the company, valued at $42,576,570. This trade represents a 4.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 17,526 shares of Cisco Systems stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the sale, the executive vice president owned 198,855 shares in the company, valued at approximately $13,512,197.25. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.