MassMutual Private Wealth & Trust FSB increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 573,700 shares of the network equipment provider’s stock after purchasing an additional 5,624 shares during the quarter. Cisco Systems comprises about 1.1% of MassMutual Private Wealth & Trust FSB’s portfolio, making the stock its 20th biggest holding. MassMutual Private Wealth & Trust FSB’s holdings in Cisco Systems were worth $39,803,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS boosted its position in Cisco Systems by 0.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock worth $55,049,000 after purchasing an additional 6,501 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after purchasing an additional 612 shares in the last quarter. Acadian Asset Management LLC raised its stake in Cisco Systems by 255.9% during the first quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider’s stock worth $482,509,000 after acquiring an additional 5,622,672 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock worth $249,180,000 after acquiring an additional 904,548 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Cisco Systems by 2.6% during the first quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider’s stock worth $6,882,000 after acquiring an additional 2,839 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Price Performance
Shares of CSCO opened at $67.02 on Tuesday. Cisco Systems, Inc. has a 12-month low of $49.78 and a 12-month high of $72.55. The business has a 50-day simple moving average of $68.20 and a two-hundred day simple moving average of $64.02. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The stock has a market cap of $264.94 billion, a PE ratio of 25.58, a PEG ratio of 2.80 and a beta of 0.99.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis 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
A number of analysts have recently weighed in on CSCO shares. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. Hsbc Global Res cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Finally, Barclays boosted their price target on Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research 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 issued a Hold rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $74.53.
Check Out Our Latest Report on Cisco Systems
Insider Buying and Selling at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $66.78, for a total transaction of $116,464.32. Following the sale, the executive vice president directly owned 158,009 shares in the company, valued at approximately $10,551,841.02. The trade was a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 428 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $68.25, for a total value of $29,211.00. Following the transaction, the senior vice president owned 30,619 shares of the company’s stock, valued at approximately $2,089,746.75. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,439 shares of company stock valued at $4,369,104 in the last ninety days. 0.01% of the stock is owned by corporate insiders.
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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