CWC Advisors LLC. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,626 shares of the network equipment provider’s stock after selling 404 shares during the period. CWC Advisors LLC.’s holdings in Cisco Systems were worth $807,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Trust Point Inc. raised its holdings in shares of Cisco Systems by 11.4% in the 2nd quarter. Trust Point Inc. now owns 28,892 shares of the network equipment provider’s stock worth $2,005,000 after buying an additional 2,953 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Cisco Systems by 1.9% in the 2nd quarter. Moody National Bank Trust Division now owns 54,943 shares of the network equipment provider’s stock valued at $3,812,000 after buying an additional 1,011 shares in the last quarter. Global Financial Private Client LLC grew its position in Cisco Systems by 10.1% in the second quarter. Global Financial Private Client LLC now owns 43,906 shares of the network equipment provider’s stock valued at $3,046,000 after acquiring an additional 4,011 shares during the period. ARS Wealth Advisors Group LLC raised its stake in Cisco Systems by 1.2% during the second quarter. ARS Wealth Advisors Group LLC now owns 148,723 shares of the network equipment provider’s stock worth $10,318,000 after acquiring an additional 1,815 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in Cisco Systems by 4.9% during the second quarter. Contravisory Investment Management Inc. now owns 8,804 shares of the network equipment provider’s stock worth $611,000 after acquiring an additional 414 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
CSCO stock opened at $68.68 on Friday. The company has a 50 day moving average price of $68.14 and a 200 day moving average price of $64.10. Cisco Systems, Inc. has a fifty-two week low of $51.15 and a fifty-two week high of $72.55. 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 stock has a market capitalization of $271.51 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s payout ratio is 62.60%.
Insiders Place Their Bets
In other Cisco Systems news, SVP Maria Victoria Wong sold 3,162 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $67.28, for a total value of $212,739.36. Following the transaction, the senior vice president directly owned 31,468 shares of the company’s stock, valued at approximately $2,117,167.04. This trade represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 9,061 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $66.60, for a total transaction of $603,462.60. Following the sale, the insider owned 237,405 shares of the company’s stock, valued at $15,811,173. The trade was a 3.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,439 shares of company stock valued at $4,369,104 over the last three months. 0.01% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a research note on Thursday, August 14th. CICC Research began coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an “outperform” rating and a $78.00 price target for the company. Wall Street Zen lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. HSBC reaffirmed a “hold” rating and set a $69.00 price objective on shares of Cisco Systems in a report on Friday, August 15th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $87.00 target price on shares of Cisco Systems in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $74.53.
Get Our Latest Stock Report on Cisco Systems
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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