Tred Avon Family Wealth LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,602 shares of the network equipment provider’s stock, valued at approximately $1,410,000.
A number of other large investors have also recently bought and sold shares of the business. Benchmark Financial Wealth Advisors LLC boosted its position in shares of Cisco Systems by 1.4% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock valued at $715,000 after purchasing an additional 142 shares in the last quarter. Yoder Wealth Management Inc. increased its holdings in Cisco Systems by 3.8% in the third quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock worth $270,000 after purchasing an additional 143 shares in the last quarter. Postrock Partners LLC lifted its stake in Cisco Systems by 4.5% in the second quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock valued at $241,000 after buying an additional 150 shares during the period. Mount Vernon Associates Inc. MD boosted its holdings in shares of Cisco Systems by 0.4% during the 2nd quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock worth $2,871,000 after buying an additional 150 shares in the last quarter. Finally, Wynn Capital LLC increased its stake in shares of Cisco Systems by 0.3% in the 3rd quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock valued at $3,315,000 after acquiring an additional 150 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of Cisco Systems stock opened at $75.19 on Friday. The company has a market cap of $297.08 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.84 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, Inc. has a 52 week low of $52.11 and a 52 week high of $80.82. The business has a 50 day moving average price of $76.66 and a 200-day moving average price of $71.58.
Cisco Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 61.65%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Morgan Stanley raised their target price on Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. President Capital cut their price target on Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. Citigroup boosted their price objective on Cisco Systems from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Piper Sandler increased their target price on Cisco Systems from $70.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.23.
Read Our Latest Report on CSCO
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 281,860 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $78.35, for a total value of $22,083,731.00. Following the completion of the sale, the chief executive officer directly owned 820,887 shares of the company’s stock, valued at approximately $64,316,496.45. This represents a 25.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael D. Capellas sold 16,150 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.28, for a total transaction of $1,248,072.00. Following the transaction, the director directly owned 157,218 shares in the company, valued at approximately $12,149,807.04. This represents a 9.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,044,865 shares of company stock valued at $81,397,635 in the last quarter. 0.01% of the stock is owned by company insiders.
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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