Tealwood Asset Management Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,501 shares of the network equipment provider’s stock after selling 1,345 shares during the quarter. Cisco Systems comprises approximately 1.4% of Tealwood Asset Management Inc.’s holdings, making the stock its 5th largest position. Tealwood Asset Management Inc.’s holdings in Cisco Systems were worth $3,157,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CSCO. Pandora Wealth Inc. bought a new stake in shares of Cisco Systems in the first quarter valued at approximately $31,000. Nova Wealth Management Inc. bought a new stake in Cisco Systems in the 1st quarter valued at $31,000. Fairway Wealth LLC boosted its holdings in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Accent Capital Management LLC bought a new stake in Cisco Systems in the 1st quarter valued at $36,000. Finally, Investment Management Corp VA ADV lifted its stake in shares of Cisco Systems by 145.3% in the first quarter. Investment Management Corp VA ADV now owns 596 shares of the network equipment provider’s stock valued at $37,000 after buying an additional 353 shares during the period. 73.33% of the stock is owned by institutional investors.
Cisco Systems Price Performance
Cisco Systems stock opened at $67.72 on Tuesday. The company has a market capitalization of $267.71 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.99. The business has a 50 day simple moving average of $68.11 and a 200 day simple moving average of $64.41. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91.
Cisco Systems Dividend Announcement
The company 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 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 62.60%.
Insider Buying and Selling
In other Cisco Systems news, CEO Charles Robbins sold 30,557 shares of Cisco Systems 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 completion of the transaction, the chief executive officer owned 639,000 shares in the company, valued at approximately $42,576,570. The trade was a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 7,511 shares of Cisco Systems stock in a transaction on Wednesday, August 20th. The shares were 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 owned 161,467 shares of the company’s stock, valued at approximately $10,792,454.28. The trade was a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock valued at $5,559,996 in the last ninety days. 0.01% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
CSCO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Morgan Stanley raised their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. HSBC reaffirmed a “hold” rating and issued a $69.00 target price on shares of Cisco Systems in a research report on Friday, August 15th. KeyCorp began coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price for the company. Finally, Wall Street Zen cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $74.53.
Check Out Our Latest Research Report on CSCO
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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