Builder Investment Group Inc. ADV reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,804 shares of the network equipment provider’s stock after selling 300 shares during the period. Cisco Systems makes up approximately 1.3% of Builder Investment Group Inc. ADV’s investment portfolio, making the stock its 17th biggest position. Builder Investment Group Inc. ADV’s holdings in Cisco Systems were worth $5,329,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Diversified Enterprises LLC boosted its stake in shares of Cisco Systems by 9.0% in the second quarter. Diversified Enterprises LLC now owns 12,360 shares of the network equipment provider’s stock valued at $858,000 after buying an additional 1,017 shares during the period. Cahaba Wealth Management Inc. acquired a new position in Cisco Systems during the second quarter valued at approximately $223,000. Independent Wealth Network Inc. raised its position in Cisco Systems by 3.2% during the second quarter. Independent Wealth Network Inc. now owns 6,988 shares of the network equipment provider’s stock valued at $485,000 after purchasing an additional 216 shares in the last quarter. ORG Wealth Partners LLC raised its position in Cisco Systems by 80.2% during the second quarter. ORG Wealth Partners LLC now owns 2,319 shares of the network equipment provider’s stock valued at $160,000 after purchasing an additional 1,032 shares in the last quarter. Finally, West Branch Capital LLC raised its position in Cisco Systems by 4.8% during the second quarter. West Branch Capital LLC now owns 50,762 shares of the network equipment provider’s stock valued at $3,522,000 after purchasing an additional 2,318 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Stock Performance
Shares of CSCO opened at $67.22 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $265.73 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99. The firm’s fifty day simple moving average is $68.12 and its two-hundred day simple moving average is $64.30. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $72.55.
Cisco Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.41 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.4%. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.
Insider Transactions at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 1,744 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $66.78, for a total transaction of $116,464.32. Following the completion of the sale, the executive vice president owned 158,009 shares in the company, valued at $10,551,841.02. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 30,557 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. The trade was a 4.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,965 shares of company stock worth $5,559,996. Company insiders own 0.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Hsbc Global Res downgraded shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. KeyCorp started coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target for the company. Finally, Evercore ISI upped their price target on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.53.
Read Our Latest Stock Report on Cisco Systems
Cisco Systems 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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