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

L2 Asset Management LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor 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 holdings, making the stock its 16th largest position. L2 Asset Management LLC’s holdings in Cisco Systems were worth $10,645,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Cisco Systems during the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management bought a new position in Cisco Systems in the 4th quarter valued at about $25,000. Networth Advisors LLC lifted its position in Cisco Systems by 276.4% in the 1st quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider’s stock valued at $26,000 after acquiring an additional 246 shares in the last quarter. Financial Life Planners acquired a new position in Cisco Systems during the 1st quarter valued at about $27,000. Finally, Manning & Napier Advisors LLC boosted its stake in Cisco Systems by 137.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 346 shares of the network equipment provider’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 5,832 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $111.47, for a total transaction of $650,093.04. Following the completion of the sale, the executive vice president directly owned 128,382 shares of the company’s stock, valued at $14,310,741.54. This trade represents a 4.35% decrease in their position. The sale was disclosed in a document filed 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 Oliver Tuszik sold 2,760 shares of Cisco Systems stock in a transaction 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 sale, the executive vice president owned 165,276 shares in the company, valued at $18,586,938.96. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 53,611 shares of company stock worth $6,066,680. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Cisco Systems from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Morgan Stanley lifted their target price on Cisco Systems from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. HSBC downgraded Cisco Systems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $137.00 to $120.00 in a report on Friday, August 14th. Evercore increased their price target on Cisco Systems from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Argus raised their price objective on Cisco Systems from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Two research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.43.

Cisco Systems Price Performance

Cisco Systems stock opened at $110.23 on Tuesday. Cisco Systems, Inc. has a 52 week low of $66.13 and a 52 week high of $130.37. The company’s 50 day moving average price is $115.82 and its two-hundred day moving average price is $100.56. The stock has a market cap 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 (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 the consensus estimate of $1.17 by $0.05. The company had revenue of $17.25 billion during the quarter, compared to analyst estimates of $16.84 billion. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.Cisco Systems’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. 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, equities analysts predict that Cisco Systems, Inc. will post 4.51 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

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.