L2 Asset Management LLC Sells 19,478 Shares of Cisco Systems, Inc. $CSCO

L2 Asset Management LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,630 shares of the network equipment provider’s stock after selling 19,478 shares during the period. Cisco Systems comprises approximately 1.1% of L2 Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. L2 Asset Management LLC’s holdings in Cisco Systems were worth $10,645,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Brighton Jones LLC increased its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Cisco Systems by 7.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock worth $706,000 after purchasing an additional 712 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Cisco Systems by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider’s stock valued at $969,000 after purchasing an additional 519 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Cisco Systems by 118.1% in the 2nd quarter. Marshall Wace LLP now owns 90,650 shares of the network equipment provider’s stock valued at $6,289,000 after purchasing an additional 590,650 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CSCO. CICC Research lifted their target price on shares of Cisco Systems from $96.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $95.00 to $96.00 in a report on Monday, May 11th. UBS Group lifted their price objective on Cisco Systems from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Rosenblatt Securities boosted their price objective on Cisco Systems from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 7,127 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $119.91, for a total value of $854,598.57. Following the completion of the sale, the executive vice president directly owned 140,857 shares of the company’s stock, valued at $16,890,162.87. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Oliver Tuszik sold 2,760 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.46, for a total value of $310,389.60. Following the transaction, the executive vice president directly owned 165,276 shares in the company, valued at approximately $18,586,938.96. This trade represents a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 53,611 shares of company stock worth $6,066,680. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $110.23 on Tuesday. The company has a fifty day moving average of $115.82 and a 200-day moving average of $100.56. The firm 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 company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a twelve month low of $66.13 and a twelve month high of $130.37.

Cisco Systems (NASDAQ:CSCO) last released 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. The company had revenue of $17.25 billion for the quarter, compared to the consensus estimate of $16.84 billion. Cisco Systems had a net margin of 20.95% and a return on equity of 30.16%. Cisco Systems’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. 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. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 4.51 EPS for the current year.

Cisco Systems Announces Dividend

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

Cisco Systems Company 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.