Wealthstreet Investment Advisors LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,971 shares of the network equipment provider’s stock after selling 1,602 shares during the quarter. Cisco Systems accounts for 0.9% of Wealthstreet Investment Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Wealthstreet Investment Advisors LLC’s holdings in Cisco Systems were worth $7,114,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Horan Securities Inc. raised its position in shares of Cisco Systems by 663.0% during the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after purchasing an additional 663 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at $33,000. Lowe Wealth Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at $38,000. Highwater Wealth Management LLC purchased a new stake in Cisco Systems in the 4th quarter valued at $51,000. Finally, Cohen & Steers Inc. purchased a new stake in Cisco Systems in the 4th quarter valued at $51,000. 74.41% of the stock is currently owned by institutional investors.
NASDAQ:CSCO traded down $2.14 during trading on Friday, reaching $53.25. The company’s stock had a trading volume of 29,008,206 shares, compared to its average volume of 13,164,245. The company has a market capitalization of $237.15 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.69. The company has a 50 day simple moving average of $56.48. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.63%. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.
A number of equities research analysts recently commented on the company. MKM Partners increased their price target on Cisco Systems to $56.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $60.00 price target on shares of Cisco Systems in a research report on Wednesday, June 12th. William Blair lowered Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price target for the company. in a research report on Wednesday, June 12th. Jefferies Financial Group increased their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Cisco Systems in a research report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.42.
In other news, EVP Mark D. Chandler sold 1,379 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total transaction of $77,141.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wesley G. Bush purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $55.74 per share, with a total value of $557,400.00. Following the purchase, the director now directly owns 3,017 shares in the company, valued at approximately $168,167.58. The disclosure for this purchase can be found here. Insiders have sold a total of 95,129 shares of company stock valued at $5,159,754 in the last quarter. 0.03% of the stock is owned by corporate insiders.
Cisco Systems Company 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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