Kera Capital Partners Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 309.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,141 shares of the network equipment provider’s stock after purchasing an additional 14,469 shares during the period. Kera Capital Partners Inc.’s holdings in Cisco Systems were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its stake in Cisco Systems by 1.1% in the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock valued at $29,163,000 after purchasing an additional 4,525 shares in the last quarter. Greystone Financial Group LLC bought a new stake in Cisco Systems during the third quarter worth $8,563,000. Drive Wealth Management LLC lifted its stake in Cisco Systems by 2.7% in the second quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock valued at $1,152,000 after acquiring an additional 436 shares during the last quarter. CX Institutional increased its stake in shares of Cisco Systems by 11.0% during the 3rd quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock worth $9,875,000 after purchasing an additional 14,334 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in shares of Cisco Systems by 53.3% in the 2nd quarter. Shell Asset Management Co. now owns 77,234 shares of the network equipment provider’s stock valued at $5,358,000 after purchasing an additional 26,840 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Up 2.0%
Shares of NASDAQ:CSCO opened at $75.47 on Wednesday. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $80.82. The business has a fifty day simple moving average of $76.45 and a 200 day simple moving average of $71.48. The firm has a market cap of $298.19 billion, a P/E ratio of 28.37, a P/E/G ratio of 2.80 and a beta of 0.87. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.46.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, January 2nd. Cisco Systems’s dividend payout ratio is 61.65%.
Insider Activity
In related news, insider Jeetendra I. Patel sold 163,896 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $77.86, for a total transaction of $12,760,942.56. Following the completion of the transaction, the insider directly owned 281,108 shares in the company, valued at $21,887,068.88. The trade was a 36.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 281,860 shares of Cisco Systems stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $78.35, for a total value of $22,083,731.00. Following the sale, the chief executive officer directly owned 820,887 shares of the company’s stock, valued at approximately $64,316,496.45. This trade represents a 25.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,044,865 shares of company stock worth $81,397,635. 0.01% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on CSCO. BNP Paribas Exane raised their price objective on Cisco Systems from $76.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. HSBC raised their price target on Cisco Systems from $69.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, November 14th. CICC Research upped their price target on shares of Cisco Systems from $78.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Melius Research lifted their price objective on shares of Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, UBS Group raised their target price on Cisco Systems from $88.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.23.
Get Our Latest Analysis on Cisco Systems
Cisco Systems Company Profile
Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.
In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.
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