Twin Lakes Capital Management LLC Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Twin Lakes Capital Management LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,459 shares of the network equipment provider’s stock after selling 1,831 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in Cisco Systems were worth $687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Wallace Advisory Group LLC lifted its holdings in shares of Cisco Systems by 13.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 21,651 shares of the network equipment provider’s stock valued at $1,029,000 after purchasing an additional 2,521 shares during the last quarter. Front Row Advisors LLC increased its position in Cisco Systems by 134.4% during the 2nd quarter. Front Row Advisors LLC now owns 4,813 shares of the network equipment provider’s stock valued at $229,000 after buying an additional 2,760 shares in the last quarter. Coastal Bridge Advisors LLC raised its stake in Cisco Systems by 3.6% in the second quarter. Coastal Bridge Advisors LLC now owns 11,096 shares of the network equipment provider’s stock valued at $527,000 after buying an additional 387 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Cisco Systems by 5.0% in the second quarter. NewEdge Advisors LLC now owns 450,984 shares of the network equipment provider’s stock worth $21,426,000 after acquiring an additional 21,295 shares in the last quarter. Finally, Silver Lake Advisory LLC grew its stake in shares of Cisco Systems by 2.9% during the second quarter. Silver Lake Advisory LLC now owns 131,721 shares of the network equipment provider’s stock worth $6,258,000 after acquiring an additional 3,720 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.3 %

Shares of Cisco Systems stock opened at $53.02 on Monday. The firm has a 50-day simple moving average of $49.01 and a two-hundred day simple moving average of $48.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58. The company has a market cap of $213.61 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83.

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, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSCO. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research report 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. Finally, Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock 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.