One Wealth Advisors LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 9.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,614 shares of the network equipment provider’s stock after buying an additional 846 shares during the period. One Wealth Advisors LLC’s holdings in Cisco Systems were worth $667,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Kingstone Capital Partners Texas LLC bought a new position in Cisco Systems in the second quarter worth about $904,542,000. Goldman Sachs Group Inc. raised its holdings in Cisco Systems by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock worth $2,898,722,000 after purchasing an additional 12,775,066 shares in the last quarter. Nuveen LLC bought a new position in Cisco Systems in the first quarter worth about $750,495,000. Pacer Advisors Inc. raised its holdings in Cisco Systems by 1,144.2% in the first quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider’s stock worth $501,140,000 after purchasing an additional 7,468,212 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Cisco Systems by 255.9% in 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 purchasing an additional 5,622,672 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Price Performance
Shares of NASDAQ CSCO opened at $67.72 on Tuesday. The business’s 50 day moving average price is $68.11 and its 200 day moving average price is $64.41. The firm has a market cap of $267.71 billion, a P/E ratio of 25.85, a P/E/G ratio of 2.83 and a beta of 0.99. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $72.55. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49.
Cisco Systems Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a $0.41 dividend. 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 is currently 62.60%.
Analysts Set New Price Targets
A number of brokerages have commented on CSCO. HSBC reiterated a “hold” rating and issued a $69.00 target price on shares of Cisco Systems in a report on Friday, August 15th. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating on the stock. 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 note on Thursday, August 14th. Finally, Evercore ISI boosted their price target on Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research note on Thursday, August 14th. One research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.53.
View Our Latest Analysis on Cisco Systems
Insiders Place Their Bets
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,744 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $66.78, for a total value of $116,464.32. Following the sale, the executive vice president owned 158,009 shares in the company, valued at approximately $10,551,841.02. This represents a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 30,557 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $66.63, for a total value of $2,036,012.91. Following the transaction, the chief executive officer owned 639,000 shares in the company, valued at $42,576,570. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,965 shares of company stock worth $5,559,996. Corporate insiders own 0.01% of the company’s stock.
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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