Focus Financial Network Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 19.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,347 shares of the network equipment provider’s stock after purchasing an additional 4,896 shares during the period. Focus Financial Network Inc.’s holdings in Cisco Systems were worth $2,105,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC lifted its stake in Cisco Systems by 2.9% during the first quarter. Ashton Thomas Securities LLC now owns 5,654 shares of the network equipment provider’s stock worth $349,000 after purchasing an additional 159 shares in the last quarter. Central Valley Advisors LLC raised its stake in shares of Cisco Systems by 2.6% in the second quarter. Central Valley Advisors LLC now owns 6,303 shares of the network equipment provider’s stock valued at $437,000 after acquiring an additional 159 shares in the last quarter. Boltwood Capital Management raised its stake in shares of Cisco Systems by 1.4% in the second quarter. Boltwood Capital Management now owns 11,593 shares of the network equipment provider’s stock valued at $804,000 after acquiring an additional 160 shares in the last quarter. Sapient Capital LLC raised its stake in shares of Cisco Systems by 0.6% in the second quarter. Sapient Capital LLC now owns 24,957 shares of the network equipment provider’s stock valued at $1,732,000 after acquiring an additional 160 shares in the last quarter. Finally, Greenline Partners LLC raised its stake in shares of Cisco Systems by 0.5% in the first quarter. Greenline Partners LLC now owns 32,570 shares of the network equipment provider’s stock valued at $2,010,000 after acquiring an additional 162 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Up 1.4%
Shares of NASDAQ CSCO opened at $68.68 on Friday. The stock has a market cap 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. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a 52-week low of $51.15 and a 52-week high of $72.55. The business has a 50-day moving average price of $68.14 and a 200 day moving average price of $64.10.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems’s dividend payout ratio is 62.60%.
Insider Transactions at Cisco Systems
In related news, CEO Charles Robbins sold 30,557 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the transaction, the chief executive officer owned 639,000 shares of the company’s stock, valued at $42,576,570. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $68.08, for a total value of $185,041.44. Following the transaction, the executive vice president directly owned 157,184 shares in the company, valued at approximately $10,701,086.72. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,439 shares of company stock worth $4,369,104. Insiders own 0.01% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Hsbc Global Res cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Morgan Stanley increased their target price on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Evercore ISI increased their target price on Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a report on Thursday, August 14th. Finally, Piper Sandler increased their target price on Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.53.
Read Our Latest Analysis on CSCO
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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