PFG Investments LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,137 shares of the network equipment provider’s stock after buying an additional 1,321 shares during the quarter. Cisco Systems comprises 0.7% of PFG Investments LLC’s portfolio, making the stock its 19th largest position. PFG Investments LLC’s holdings in Cisco Systems were worth $12,151,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of CSCO. Victrix Investment Advisors grew its position in Cisco Systems by 3.6% in the second quarter. Victrix Investment Advisors now owns 62,935 shares of the network equipment provider’s stock valued at $4,366,000 after acquiring an additional 2,158 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in Cisco Systems in the second quarter valued at approximately $32,000. PBMares Wealth Management LLC grew its position in Cisco Systems by 4.8% in the second quarter. PBMares Wealth Management LLC now owns 6,313 shares of the network equipment provider’s stock valued at $438,000 after acquiring an additional 287 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. grew its holdings in Cisco Systems by 19.8% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 106,539 shares of the network equipment provider’s stock valued at $7,392,000 after purchasing an additional 17,640 shares in the last quarter. Finally, Alley Investment Management Company LLC grew its holdings in Cisco Systems by 1.3% during the 2nd quarter. Alley Investment Management Company LLC now owns 110,062 shares of the network equipment provider’s stock valued at $7,636,000 after purchasing an additional 1,406 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Trading Up 1.0%
Cisco Systems stock opened at $68.42 on Wednesday. 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, Inc. has a 1 year low of $52.11 and a 1 year high of $72.55. The firm’s 50-day moving average is $68.12 and its 200-day moving average is $64.43. The company has a market cap of $270.48 billion, a P/E ratio of 26.11, a PEG ratio of 2.85 and a beta of 0.99.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems’s payout ratio is currently 62.60%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on CSCO shares. William Blair upgraded Cisco Systems to a “hold” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Morgan Stanley raised their price objective on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. UBS Group raised their price objective on Cisco Systems from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company raised their price target on shares of Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $74.53.
Get Our Latest Analysis on CSCO
Insider Buying and Selling at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 7,511 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 161,467 shares in the company, valued at $10,792,454.28. The trade was a 4.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 30,557 shares of the business’s 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 of the company’s stock, valued at $42,576,570. This represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,965 shares of company stock worth $5,559,996. 0.01% of the stock is owned by company insiders.
About Cisco Systems
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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