CCLA Investment Management cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,875 shares of the network equipment provider’s stock after selling 2,678 shares during the period. CCLA Investment Management’s holdings in Cisco Systems were worth $4,012,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Postrock Partners LLC grew its stake in Cisco Systems by 4.5% in the second quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock valued at $241,000 after acquiring an additional 150 shares during the period. Mount Vernon Associates Inc. MD grew its stake in Cisco Systems by 0.4% in the second quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock valued at $2,871,000 after acquiring an additional 150 shares during the period. Lion Street Advisors LLC grew its stake in Cisco Systems by 0.7% in the second quarter. Lion Street Advisors LLC now owns 20,694 shares of the network equipment provider’s stock valued at $1,436,000 after acquiring an additional 152 shares during the period. Balboa Wealth Partners grew its stake in Cisco Systems by 1.7% in the second quarter. Balboa Wealth Partners now owns 9,150 shares of the network equipment provider’s stock valued at $635,000 after acquiring an additional 153 shares during the period. Finally, Pacifica Partners Inc. grew its stake in 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. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of Cisco Systems stock opened at $70.63 on Monday. The firm has a market cap of $279.21 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. The stock’s 50-day moving average is $68.30 and its 200-day moving average is $65.75. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, October 3rd. Cisco Systems’s dividend payout ratio is presently 62.60%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on CSCO shares. Rosenblatt Securities reissued a “buy” rating and issued a $87.00 target price on shares of Cisco Systems in a research note on Thursday, August 14th. Piper Sandler boosted their target price on Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Barclays boosted their price target on Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. HSBC restated a “hold” rating and issued a $69.00 price target on shares of Cisco Systems in a report on Friday, August 15th. Finally, William Blair upgraded Cisco Systems to a “hold” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $74.72.
Read Our Latest Stock Report on CSCO
Insider Buying and Selling at Cisco Systems
In related news, EVP Oliver Tuszik sold 17,526 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the sale, the executive vice president owned 198,855 shares in the company, valued at approximately $13,512,197.25. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 428 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $68.25, for a total value of $29,211.00. Following the sale, the senior vice president owned 30,619 shares in the company, valued at $2,089,746.75. The trade was a 1.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock valued at $5,559,996 in the last ninety days. Insiders own 0.01% of the company’s stock.
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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