111 Capital lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 41.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,892 shares of the network equipment provider’s stock after selling 20,107 shares during the quarter. 111 Capital’s holdings in Cisco Systems were worth $1,935,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Postrock Partners LLC boosted its position in Cisco Systems by 4.5% during the second quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock worth $241,000 after purchasing an additional 150 shares during the period. Pacifica Partners Inc. boosted its position in shares of Cisco Systems by 0.5% in the second quarter. Pacifica Partners Inc. now owns 34,060 shares of the network equipment provider’s stock valued at $2,338,000 after acquiring an additional 155 shares during the period. Pacific Sage Partners LLC boosted its position in shares of Cisco Systems by 0.9% in the second quarter. Pacific Sage Partners LLC now owns 16,746 shares of the network equipment provider’s stock valued at $1,162,000 after acquiring an additional 156 shares during the period. Childress Capital Advisors LLC boosted its position in shares of Cisco Systems by 0.8% in the second quarter. Childress Capital Advisors LLC now owns 18,806 shares of the network equipment provider’s stock valued at $1,305,000 after acquiring an additional 157 shares during the period. Finally, Ashton Thomas Securities LLC boosted its position in shares of Cisco Systems by 2.9% in the first quarter. Ashton Thomas Securities LLC now owns 5,654 shares of the network equipment provider’s stock valued at $349,000 after acquiring an additional 159 shares during the period. Institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Performance
Cisco Systems stock opened at $67.92 on Friday. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $72.55. The firm has a market capitalization of $268.50 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.87 and a beta of 0.97. 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 fifty day moving average price of $68.10 and a two-hundred day moving average price of $64.57.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.41 dividend. The ex-dividend date 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 (DPR) is 62.60%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CSCO shares. Wells Fargo & Company increased their price objective on Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Wall Street Zen cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cisco Systems in a research report on Saturday, September 27th. Bank of America increased their price objective on Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, CICC Research assumed coverage on Cisco Systems in a research report on Monday, July 14th. They issued an “outperform” rating and a $78.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.53.
Get Our Latest Stock Analysis on Cisco Systems
Insider Buying and Selling
In other news, EVP Oliver Tuszik sold 17,526 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $67.95, for a total value of $1,190,891.70. Following the completion of the sale, the executive vice president directly owned 198,855 shares in the company, valued at approximately $13,512,197.25. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 30,557 shares of Cisco Systems stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $66.63, for a total value of $2,036,012.91. Following the completion of the sale, the chief executive officer owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,965 shares of company stock valued at $5,559,996 in the last 90 days. 0.01% of the stock is owned by corporate insiders.
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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