Mediolanum International Funds Ltd grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 41.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 916,477 shares of the network equipment provider’s stock after acquiring an additional 269,647 shares during the period. Cisco Systems comprises approximately 0.7% of Mediolanum International Funds Ltd’s holdings, making the stock its 26th largest position. Mediolanum International Funds Ltd’s holdings in Cisco Systems were worth $54,113,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP increased its stake in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC lifted its stake in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the third quarter valued at $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Price Performance
NASDAQ:CSCO opened at $60.47 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $240.84 billion, a P/E ratio of 25.95, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31. The business’s 50-day moving average price is $59.34 and its 200 day moving average price is $54.35.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given 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 2.65%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.
Insider Activity
In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.
Get Our Latest Stock Analysis on Cisco Systems
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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