Cyrus J. Lawrence LLC Has $73,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cyrus J. Lawrence LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 65.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,538 shares of the network equipment provider’s stock after selling 2,925 shares during the period. Cyrus J. Lawrence LLC’s holdings in Cisco Systems were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. DRW Securities LLC boosted its holdings in Cisco Systems by 90.2% in the second quarter. DRW Securities LLC now owns 22,283 shares of the network equipment provider’s stock valued at $1,059,000 after acquiring an additional 10,567 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Cisco Systems by 3.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,811 shares of the network equipment provider’s stock valued at $718,000 after purchasing an additional 540 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $213,000. Fidelis Capital Partners LLC raised its stake in Cisco Systems by 11.5% during the second quarter. Fidelis Capital Partners LLC now owns 59,289 shares of the network equipment provider’s stock worth $2,675,000 after buying an additional 6,120 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in Cisco Systems by 7,246.8% during the second quarter. Frank Rimerman Advisors LLC now owns 64,064 shares of the network equipment provider’s stock valued at $3,044,000 after acquiring an additional 63,192 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $51.97 on Monday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a market cap of $209.38 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The stock’s fifty day simple moving average is $48.52 and its two-hundred day simple moving average is $48.04.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the firm earned $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $55.00.

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.