BayBridge Capital Group LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,759 shares of the network equipment provider’s stock after acquiring an additional 258 shares during the period. BayBridge Capital Group LLC’s holdings in Cisco Systems were worth $608,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares during the last quarter. GAMMA Investing LLC grew its holdings in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after buying an additional 6,625,045 shares in the last quarter. Doliver Advisors LP lifted its position in Cisco Systems by 2.5% in the first quarter. Doliver Advisors LP now owns 12,550 shares of the network equipment provider’s stock valued at $774,000 after purchasing an additional 308 shares during the last quarter. Finally, Somerset Trust Co grew its stake in Cisco Systems by 1.5% in the first quarter. Somerset Trust Co now owns 109,910 shares of the network equipment provider’s stock worth $6,783,000 after purchasing an additional 1,636 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Down 0.9%
Shares of NASDAQ:CSCO opened at $67.22 on Friday. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. The company’s fifty day moving average is $68.12 and its two-hundred day moving average is $64.32. The stock has a market capitalization of $265.73 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.99.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.60%.
Insiders Place Their Bets
In other news, EVP Thimaya K. Subaiya sold 7,511 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the transaction, the executive vice president directly owned 161,467 shares of the company’s stock, valued at $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeetendra I. Patel sold 9,061 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $66.60, for a total value of $603,462.60. Following the sale, the insider directly owned 237,405 shares of the company’s stock, valued at $15,811,173. This represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,965 shares of company stock valued at $5,559,996 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on CSCO shares. Piper Sandler upped their target price on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, August 14th. Bank of America raised their price objective on Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. William Blair raised shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Hsbc Global Res cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Morgan Stanley increased their price target on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. 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 stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $74.53.
Read Our Latest Report on CSCO
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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