1834 Investment Advisors Co. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 5.7% during the fourth quarter, HoldingsChannel reports. The fund owned 115,375 shares of the network equipment provider’s stock after selling 6,915 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Cisco Systems were worth $6,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in CSCO. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Highline Wealth Partners LLC increased its position in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the period. Quarry LP boosted its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ:CSCO opened at $62.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. The business has a 50 day moving average price of $59.22 and a 200-day moving average price of $54.03. The firm has a market cap of $247.85 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.
Wall Street Analyst Weigh In
Several brokerages have commented on CSCO. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group boosted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.50.
Read Our Latest Stock Report on CSCO
Insider Activity at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. 0.01% of the stock is owned by corporate 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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