Motco reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 93,526 shares of the network equipment provider’s stock after selling 3,492 shares during the quarter. Motco’s holdings in Cisco Systems were worth $6,367,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CSCO. Financial Connections Group Inc. lifted its holdings in shares of Cisco Systems by 89.4% during the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Pandora Wealth Inc. acquired a new position in shares of Cisco Systems during the first quarter worth approximately $31,000. Nova Wealth Management Inc. acquired a new position in shares of Cisco Systems during the first quarter worth approximately $31,000. Brown Shipley& Co Ltd acquired a new position in shares of Cisco Systems during the second quarter worth approximately $32,000. Finally, Fairway Wealth LLC lifted its holdings in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after buying an additional 400 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of NASDAQ:CSCO opened at $72.62 on Wednesday. The business’s fifty day moving average price is $68.51 and its two-hundred day moving average price is $65.95. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $72.68. The stock has a market capitalization of $287.08 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. 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 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, October 3rd. Cisco Systems’s dividend payout ratio is 62.60%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on CSCO. CICC Research began coverage on Cisco Systems in a report on Monday, July 14th. They set an “outperform” rating and a $78.00 price target for the company. Barclays boosted their price objective on Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Wall Street Zen cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Evercore ISI boosted their price objective on Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.72.
Read Our Latest Analysis on Cisco Systems
Insider Transactions at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,718 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $68.08, for a total value of $185,041.44. Following the sale, the executive vice president directly owned 157,184 shares in the company, valued at $10,701,086.72. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 428 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $68.25, for a total value of $29,211.00. Following the sale, the senior vice president owned 30,619 shares in the company, valued at $2,089,746.75. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is owned by 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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