ANB Bank Cuts Cisco Holdings; Other Investors Increase Stakes

ANB Bank has reduced its holdings in Cisco Systems, Inc. (NASDAQ: CSCO) by 5.2% during the second quarter, as indicated in its latest 13F filing with the Securities and Exchange Commission. Following the sale of 934 shares, the bank now possesses 16,956 shares of the networking equipment provider, valued at approximately $1,176,000.

While ANB Bank has scaled back its investment, other institutional investors have been taking a different approach. For instance, Financial Connections Group Inc. has raised its position in Cisco by an impressive 89.4% during the same quarter, acquiring an additional 193 shares to bring its total to 409 shares, valued at $28,000. Similarly, Legacy Investment Solutions LLC initiated a new position valued at $28,000, while Pandora Wealth Inc. and Nova Wealth Management Inc. each bought stakes worth approximately $31,000 during the first quarter.

The trend among institutional investors indicates a broader interest in Cisco, with these funds collectively owning 73.33% of the company’s stock.

In addition to institutional moves, insider trading has also been notable. On September 11, Deborah L. Stahlkopf, the Executive Vice President, sold 2,718 shares at an average price of $68.08, totaling $185,041.44. Post-transaction, she retained 157,184 shares, valued at approximately $10,701,086.72, reflecting a 1.70% decrease in her holdings. Similarly, on August 20, Thimaya K. Subaiya, another Executive Vice President, sold 7,511 shares for $502,035.24, resulting in a 4.44% decline in his ownership.

Insiders have collectively sold 33,089 shares valued at $2,236,383 over the past 90 days, with company insiders holding just 0.01% of Cisco’s stock.

Stock Performance and Market Insights

As of last Friday, shares of CSCO opened at $78.00, reflecting a 0.8% increase. Cisco maintains a market capitalization of $307.38 billion, with a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The company’s recent performance includes a 12-month low of $52.11 and a 12-month high of $79.50.

Cisco released its quarterly earnings data on November 12, reporting earnings per share (EPS) of $1.00, surpassing analyst expectations of $0.98. Revenue for the quarter reached $14.88 billion, exceeding forecasts of $14.77 billion. This marked a 7.5% increase in revenue year-over-year, up from $0.91 EPS in the same quarter the previous year. For the fiscal year 2026, Cisco has set guidance at $4.080 to $4.140 EPS, with second quarter guidance of $1.010 to $1.030 EPS.

Dividend Announcements and Analyst Ratings

Cisco Systems recently announced a quarterly dividend of $0.41, set to be paid on January 21, 2024, to stockholders of record on January 2, 2024. This translates to an annualized dividend of $1.64 and a dividend yield of 2.1%. The company’s dividend payout ratio stands at 61.65%.

In the realm of equity research, several analysts have recently commented on CSCO shares. UBS Group raised its target price for Cisco from $88.00 to $90.00 while maintaining a “buy” rating. Additionally, JPMorgan Chase & Co. has increased its target from $80.00 to $90.00, assigning an “overweight” rating. Evercore ISI also adjusted its target price from $74.00 to $80.00, rating it as “in-line.” Currently, 16 analysts have rated the stock as a “buy,” while 9 have assigned a hold rating, resulting in a consensus rating of “Moderate Buy” and a target price of $83.75.

Cisco Systems, Inc. designs and manufactures networking and related products, serving markets across the Americas, Europe, the Middle East, Africa, Asia Pacific, Japan, and China. Its offerings include a robust switching portfolio, enterprise routing solutions, wireless products, and integrated computing systems.