Samalin Investment Counsel LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 34.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,191 shares of the network equipment provider’s stock after buying an additional 1,319 shares during the period. Samalin Investment Counsel LLC’s holdings in Cisco Systems were worth $320,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Legacy Financial Group Inc. boosted its position in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after buying an additional 169 shares during the period. Capital Advantage Inc. boosted its position in shares of Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after buying an additional 172 shares during the period. Avalon Trust Co boosted its position in shares of Cisco Systems by 5.4% in the first quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider’s stock worth $212,000 after buying an additional 177 shares during the period. Rossmore Private Capital boosted its position in shares of Cisco Systems by 0.3% in the first quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider’s stock worth $4,272,000 after buying an additional 181 shares during the period. Finally, GSG Advisors LLC boosted its position in shares of Cisco Systems by 4.8% in the first quarter. GSG Advisors LLC now owns 4,023 shares of the network equipment provider’s stock worth $234,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Price Performance
NASDAQ CSCO opened at $68.39 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $47.85 and a fifty-two week high of $72.55. The stock’s 50-day moving average is $68.29 and its two-hundred day moving average is $63.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market cap of $270.82 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CSCO. Citigroup raised their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Wolfe Research started coverage on Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating for the company. Barclays increased their price objective on Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company increased their price objective on Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.53.
Check Out Our Latest Stock Report on Cisco Systems
Insider Activity at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 30,557 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the transaction, the chief executive officer directly owned 639,000 shares in the company, valued at $42,576,570. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,783 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $66.60, for a total value of $651,547.80. Following the transaction, the executive vice president owned 161,662 shares in the company, valued at approximately $10,766,689.20. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,933 shares of company stock valued at $7,628,428. Insiders own 0.01% of the company’s stock.
About Cisco Systems
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.
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