Waverly Advisors LLC Has $80.85 Million Stake in Cisco Systems, Inc. $CSCO

Waverly Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 60.0% during the second quarter, HoldingsChannel reports. The firm owned 683,109 shares of the network equipment provider’s stock after acquiring an additional 256,239 shares during the quarter. Waverly Advisors LLC’s holdings in Cisco Systems were worth $80,852,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. California State Teachers Retirement System lifted its position in Cisco Systems by 11,624.6% in the 2nd quarter. California State Teachers Retirement System now owns 706,130,053 shares of the network equipment provider’s stock valued at $82,942,036,000 after acquiring an additional 700,107,427 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Cisco Systems during the second quarter worth about $42,129,647,000. State Street Corp grew its holdings in shares of Cisco Systems by 0.5% during the fourth quarter. State Street Corp now owns 195,521,161 shares of the network equipment provider’s stock worth $15,060,995,000 after buying an additional 1,057,962 shares in the last quarter. Morgan Stanley raised its position in Cisco Systems by 0.3% in the 4th quarter. Morgan Stanley now owns 75,326,258 shares of the network equipment provider’s stock valued at $5,802,382,000 after buying an additional 206,352 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Cisco Systems by 11.6% in the 4th quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider’s stock valued at $4,609,227,000 after acquiring an additional 6,224,062 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Truist Financial increased their price target on Cisco Systems from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft started coverage on Cisco Systems in a report on Tuesday, September 1st. They set a “buy” rating and a $135.00 target price on the stock. Citigroup raised their price target on Cisco Systems from $90.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 14th. KeyCorp boosted their price objective on Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Rosenblatt Securities upped their price target on shares of Cisco Systems from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.68.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.03 on Tuesday, hitting $109.17. 14,680,359 shares of the company’s stock were exchanged, compared to its average volume of 22,994,383. Cisco Systems, Inc. has a 52 week low of $66.13 and a 52 week high of $130.37. The stock has a 50-day moving average of $113.93 and a 200-day moving average of $102.82. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. The stock has a market cap of $430.41 billion, a price-to-earnings ratio of 32.69, a P/E/G ratio of 2.28 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $17.25 billion during the quarter, compared to analysts’ expectations of $16.84 billion. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.Cisco Systems’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm 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. Analysts expect that Cisco Systems, Inc. will post 4.43 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders 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 dividend yield of 1.5%. The ex-dividend date is Friday, October 2nd. Cisco Systems’s dividend payout ratio is presently 50.30%.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 7,170 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $111.57, for a total transaction of $799,956.90. Following the sale, the insider directly owned 230,593 shares in the company, valued at approximately $25,727,261.01. The trade was a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,628 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $111.54, for a total value of $2,412,387.12. Following the completion of the transaction, the chief executive officer directly owned 602,710 shares of the company’s stock, valued at $67,226,273.40. This represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,611 shares of company stock worth $6,066,680 in the last ninety days. Insiders own 0.01% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that provides networking, cybersecurity, collaboration, observability and other information technology solutions. Its offerings include routers, switches, wireless networking equipment, data center infrastructure, security platforms, unified communications tools and software designed to help organizations connect, manage and protect their digital environments.

Cisco serves businesses, government agencies, educational institutions, telecommunications providers and other organizations worldwide.