Wilmington Savings Fund Society, FSB 13F: Cuts CSCO Stake by $3.7M
Key Points
- Wilmington Savings Fund Society filed an SEC report on October 23, 2026, revealing a reduction of 34,405 shares in Cisco Systems, Inc.
- Wilmington Savings Fund Society, FSB held 391,201 $CSCO shares at quarter end, down 8.08% from the prior quarter.
- Cisco Systems carries trailing twelve-month revenue of $63.3 billion with a net profit margin of 21.0% ahead of its November 12, 2026 earnings release.
- Wall Street analysts maintain a consensus buy recommendation on the network hardware maker with a mean price target of $136.16.
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Wilmington Savings Fund Society reduced its stake in Cisco Systems, Inc. CSCO by 34,405 shares during the quarter, according to a Form 13F filed with the SEC on October 23, 2026. The institutional investor disclosed ownership of 391,201 shares valued at $42,104,964 at the close of the period, down from 425,606 shares previously.
CSCO
Cisco Systems, Inc.
What Changed in Wilmington Savings Fund Society's Cisco Systems Position
The fund trimmed its holdings by an 8.1% decrease during the quarter. The resulting position of 391,201 shares reflects a total reported value of over $42.1 million based on market valuations at the time of reporting.
Other Institutional Activity in Cisco Systems
Other institutional investors also adjusted their positions in the networking giant during the same reporting period. Tectonic Advisors lowered its holdings by 16,990 shares, ending with 159,550 shares valued at about $17,172,418 after a 9.6% decrease. Howland Capital Management cut its stake by 11,391 shares, reducing its holdings by 24.1% to 35,770 shares worth about $3,849,926.
Cisco Systems, Inc. Stock Down 0.7%
Cisco Systems shares closed at $106.50 on the October 23, 2026 filing date and recently traded around $104.49. The stock trades below its 50-day moving average of $110.37 and above its 200-day moving average of $100.16. The shares sit 18.3% below their 52-week high of $130.37 and well above their 52-week low of $70.06.
Recent Earnings
Cisco generated $63.3 billion in trailing twelve-month revenue alongside earnings of $3.33 per share. The company posted a net profit margin of 21.0% and a return on equity of 27.3%. Investors look ahead to the next earnings report scheduled for November 12, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
11 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 2.7%.
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Profit surprise
EBITDA missed by 24 percent. Operating income missed by 58 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 11 target raises.
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Earnings quality
Gross margin down 1.9 points. Operating margin up 2.4 points. Positive free cash flow.
Earnings Call Summary
Cisco delivered record 15.8 billion dollar revenue in the quarter, up 10 percent year over year, with networking revenue surging 21 percent driven by AI infrastructure demand and campus switching upgrades. The company shipped its millionth Silicon One chip, unveiled its new 102.4 terabit G300 processor, and expects strong AI orders exceeding 5 billion dollars for the year, though security revenue declined 4 percent due to Splunk transition to cloud subscriptions. Strong product order growth of 18 percent, especially from hyperscalers up 65 percent, shows broad momentum despite gross margin compression from memory cost inflation.
Guidance Cisco guided for full-year revenue of about 61.5 billion dollars and earnings per share of 4.15 dollars, putting the company on track for its strongest year. The company also raised its AI infrastructure order target to over 5 billion dollars for fiscal 2026, expecting to recognize more than 3 billion dollars in AI revenue.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
The company pays an annual dividend rate of $1.68 per share, which translates to a dividend yield of 1.6%. That payout is backed by a dividend payout ratio of 49.9%.
Insider Buying and Selling at Cisco Systems, Inc.
Company insiders completed several transactions prior to the filing. Officer Nichlas A. Fink sold 2,274 shares on September 8, 2026, at an average price of $109.36 for a total value of $248,685. Chief Financial Officer Mark Patterson sold 1,795 shares on September 11, 2026, at $108.87 per share for a total of $195,422. Officer Thimaya K. Subaiya sold 312 shares on September 14, 2026, at $110.18 for a total of $34,376, while officer Oliver Tuszik sold 680 shares on the same day at $110.18 for $74,922.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing period. On August 13, 2026, UBS maintained its buy rating and raised its price target from $132.00 to $138.00. The following day, HSBC downgraded the stock to a hold rating and cut its price target from $137.00 to $120.00. Deutsche Bank initiated coverage on September 1, 2026, with a buy rating and a $135.00 price target. Piper Sandler maintained a neutral rating on September 22, 2026, lowering its target from $132.00 to $125.00. Bernstein initiated coverage on September 30, 2026, with a market perform rating and a $110.00 price target. Overall, the stock carries a consensus buy rating from 25 analysts with a mean price target of $136.16.
About Cisco Systems
Headquartered in San Jose, California, Cisco designs and sells internet hardware, software, and security infrastructure to power digital networks globally. The company serves enterprises, service providers, and public institutions with communication equipment spanning routing, switching, and collaboration tools.
Bottom Line
Wilmington Savings Fund Society's reduction sits alongside broader institutional adjustments during the quarter. Market participants will watch the upcoming earnings release on November 12, 2026, for further clues on revenue growth and profit margins.
Related Filing Alerts
Source: Wilmington Savings Fund Society, FSB's 13F filing on $CSCO (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts