PDS Planning Inc raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,745 shares of the network equipment provider’s stock after purchasing an additional 2,302 shares during the period. PDS Planning Inc’s holdings in Cisco Systems were worth $1,717,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Shipley& Co Ltd bought a new stake in Cisco Systems in the second quarter worth $32,000. Pandora Wealth Inc. purchased a new stake in shares of Cisco Systems in the first quarter valued at $31,000. Nova Wealth Management Inc. purchased a new stake in shares of Cisco Systems in the first quarter valued at $31,000. Fairway Wealth LLC raised its stake in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 400 shares during the period. Finally, Accent Capital Management LLC bought a new position in Cisco Systems during the 1st quarter valued at about $36,000. Institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Performance
Shares of CSCO stock opened at $67.94 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The firm has a market cap of $268.58 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.94 and a beta of 0.97. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $72.55. The company’s 50 day moving average is $68.24 and its 200 day moving average is $64.86.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems’s dividend payout ratio is 62.60%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on CSCO shares. HSBC reiterated a “hold” rating and set a $69.00 price target on shares of Cisco Systems in a report on Friday, August 15th. Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. William Blair raised Cisco Systems to a “hold” rating in a research note on Thursday, August 14th. Morgan Stanley increased their target price on Cisco Systems from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.89.
Check Out Our Latest Stock Report on Cisco Systems
Insiders Place Their Bets
In other news, EVP Thimaya K. Subaiya sold 7,511 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the transaction, the executive vice president owned 161,467 shares in the company, valued at $10,792,454.28. This trade represents a 4.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,783 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $66.60, for a total value of $651,547.80. Following the transaction, the executive vice president owned 161,662 shares in the company, valued at $10,766,689.20. This trade represents a 5.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,965 shares of company stock valued at $5,559,996. Insiders own 0.01% of the company’s stock.
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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