Empower Advisory Group LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,156 shares of the network equipment provider’s stock after purchasing an additional 2,379 shares during the quarter. Empower Advisory Group LLC’s holdings in Cisco Systems were worth $3,341,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Cisco Systems by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider’s stock worth $24,002,095,000 after buying an additional 1,865,648 shares during the period. Geode Capital Management LLC boosted its stake in Cisco Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after acquiring an additional 1,157,704 shares during the last quarter. Invesco Ltd. grew its holdings in Cisco Systems by 10.4% during the 1st quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider’s stock worth $2,907,599,000 after acquiring an additional 4,437,450 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Cisco Systems by 37.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock valued at $2,898,722,000 after acquiring an additional 12,775,066 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cisco Systems by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,797,629 shares of the network equipment provider’s stock valued at $2,332,492,000 after purchasing an additional 1,326,354 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of CSCO stock opened at $78.00 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $79.50. The company’s 50 day moving average price is $69.87 and its two-hundred day moving average price is $67.49. The company has a market capitalization of $307.38 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is currently 61.65%.
Analyst Upgrades and Downgrades
CSCO has been the subject of a number of analyst reports. Bank of America lifted their price objective on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group boosted their target price on Cisco Systems from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. CICC Research increased their price target on shares of Cisco Systems from $78.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday. HSBC lifted their price objective on shares of Cisco Systems from $69.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Argus increased their target price on shares of Cisco Systems from $80.00 to $100.00 in a report on Thursday. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.
Read Our Latest Stock Analysis on Cisco Systems
Insider Transactions at Cisco Systems
In other Cisco Systems news, EVP Oliver Tuszik sold 17,526 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 198,855 shares in the company, valued at approximately $13,512,197.25. The trade was a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $10,701,086.72. This trade represents a 1.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 33,089 shares of company stock worth $2,236,383. Company 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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