Dynamic Advisor Solutions LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,429 shares of the network equipment provider’s stock after selling 6,460 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Cisco Systems were worth $7,731,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Securities LLC raised its stake in shares of Cisco Systems by 2.9% in the first quarter. Ashton Thomas Securities LLC now owns 5,654 shares of the network equipment provider’s stock valued at $349,000 after buying an additional 159 shares during the period. Central Valley Advisors LLC raised its stake in shares of Cisco Systems by 2.6% in the second quarter. Central Valley Advisors LLC now owns 6,303 shares of the network equipment provider’s stock valued at $437,000 after buying an additional 159 shares during the period. Boltwood Capital Management raised its stake in shares of Cisco Systems by 1.4% in the second quarter. Boltwood Capital Management now owns 11,593 shares of the network equipment provider’s stock valued at $804,000 after buying an additional 160 shares during the period. Sapient Capital LLC raised its stake in shares of Cisco Systems by 0.6% in the second quarter. Sapient Capital LLC now owns 24,957 shares of the network equipment provider’s stock valued at $1,732,000 after buying an additional 160 shares during the period. Finally, Greenline Partners LLC raised its stake in shares of Cisco Systems by 0.5% in the first quarter. Greenline Partners LLC now owns 32,570 shares of the network equipment provider’s stock valued at $2,010,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Down 0.1%
Shares of NASDAQ:CSCO opened at $66.93 on Wednesday. Cisco Systems, Inc. has a 52-week low of $50.27 and a 52-week high of $72.55. The firm has a market capitalization of $264.59 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.82 and a beta of 0.99. The stock has a 50 day moving average price of $68.17 and a 200-day moving average price of $64.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 62.60%.
Wall Street Analyst Weigh In
CSCO has been the topic of several research reports. Piper Sandler boosted their target price on Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Rosenblatt Securities reiterated a “buy” rating and set a $87.00 price objective on shares of Cisco Systems in a research note on Thursday, August 14th. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. Finally, Barclays boosted their price objective on Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.53.
Get Our Latest Stock Report on CSCO
Insider Buying and Selling
In related news, CEO Charles Robbins sold 30,557 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.63, for a total value of $2,036,012.91. Following the transaction, the chief executive officer directly owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. This trade represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total value of $502,035.24. Following the completion of the transaction, the executive vice president directly owned 161,467 shares in the company, valued at approximately $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,439 shares of company stock worth $4,369,104 in the last quarter. Company insiders own 0.01% of the company’s stock.
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 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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