Lyell Wealth Management LP Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Lyell Wealth Management LP raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,653 shares of the network equipment provider’s stock after buying an additional 4,819 shares during the period. Lyell Wealth Management LP’s holdings in Cisco Systems were worth $3,528,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hoey Investments Inc. purchased a new stake in Cisco Systems during the second quarter valued at approximately $26,000. Lion Street Advisors LLC purchased a new stake in shares of Cisco Systems in the first quarter worth $31,000. Bourgeon Capital Management LLC purchased a new stake in shares of Cisco Systems in the first quarter worth $32,000. Emerald Advisers LLC purchased a new stake in shares of Cisco Systems in the second quarter worth $38,000. Finally, Avondale Wealth Management increased its stake in shares of Cisco Systems by 238.0% in the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock worth $39,000 after purchasing an additional 707 shares in the last quarter. 71.36% of the stock is owned by institutional investors and hedge funds.

Shares of Cisco Systems stock traded up $0.66 during trading hours on Friday, reaching $47.10. 17,706,367 shares of the company’s stock were exchanged, compared to its average volume of 16,785,004. Cisco Systems, Inc. has a 1 year low of $32.40 and a 1 year high of $56.89. The company has a market capitalization of $198.87 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The business has a fifty day moving average of $46.07 and a two-hundred day moving average of $44.16. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.87 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, July 2nd. Cisco Systems’s payout ratio is 50.53%.

A number of analysts have recently issued reports on the stock. TheStreet raised shares of Cisco Systems from a “c+” rating to a “b-” rating in a research note on Thursday, June 4th. Nomura increased their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 price objective for the company in a research note on Thursday, July 9th. Robert W. Baird cut shares of Cisco Systems from an “outperform” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Wednesday, June 10th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $50.33.

In other news, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the transaction, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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