Vanguard Group Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 393,989,568 shares of the network equipment provider’s stock after acquiring an additional 5,039,714 shares during the period. Cisco Systems makes up 0.4% of Vanguard Group Inc.’s investment portfolio, making the stock its 28th largest position. Vanguard Group Inc. owned about 0.10% of Cisco Systems worth $27,334,996,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Financial Connections Group Inc. boosted its holdings in shares of Cisco Systems by 89.4% in the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth $28,000. Pandora Wealth Inc. acquired a new position in Cisco Systems in the first quarter valued at $31,000. Nova Wealth Management Inc. purchased a new stake in Cisco Systems during the first quarter valued at about $31,000. Finally, Brown Shipley& Co Ltd purchased a new position in shares of Cisco Systems in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Performance
Cisco Systems stock opened at $77.78 on Tuesday. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $79.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. The company has a market capitalization of $306.51 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The firm’s fifty day moving average price is $70.08 and its 200 day moving average price is $67.70.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, January 2nd. Cisco Systems’s dividend payout ratio is presently 61.65%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Barclays boosted their target price on Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, November 13th. UBS Group raised their target price on shares of Cisco Systems from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Melius Research increased their price target on Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Argus boosted their price objective on Cisco Systems from $80.00 to $100.00 in a research note on Thursday, November 13th. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $84.05.
View Our Latest Research Report on Cisco Systems
Insider Activity at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $66.78, for a total value of $116,464.32. Following the completion of the sale, the executive vice president owned 158,009 shares of the company’s stock, valued at approximately $10,551,841.02. The trade was a 1.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Oliver Tuszik sold 17,526 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the completion of the sale, the executive vice president owned 198,855 shares in the company, valued at approximately $13,512,197.25. This trade represents a 8.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,089 shares of company stock worth $2,236,383 over the last three months. 0.01% of the stock is owned by corporate insiders.
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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