Terra Alpha Investments LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,748 shares of the network equipment provider’s stock after selling 474 shares during the period. Cisco Systems comprises 2.3% of Terra Alpha Investments LLC’s investment portfolio, making the stock its 19th biggest position. Terra Alpha Investments LLC’s holdings in Cisco Systems were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Drive Wealth Management LLC raised its position in Cisco Systems by 2.7% in the 2nd quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock valued at $1,152,000 after purchasing an additional 436 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of Cisco Systems by 0.7% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock valued at $55,049,000 after acquiring an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after acquiring an additional 612 shares during the last quarter. Shell Asset Management Co. increased its holdings in shares of Cisco Systems by 53.3% in the 2nd quarter. Shell Asset Management Co. now owns 77,234 shares of the network equipment provider’s stock valued at $5,358,000 after acquiring an additional 26,840 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Cisco Systems by 255.9% in the 1st quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider’s stock valued at $482,509,000 after acquiring an additional 5,622,672 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Up 0.1%
Cisco Systems stock opened at $70.72 on Wednesday. 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, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. The company has a market cap of $279.57 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97. The stock’s 50 day moving average price is $68.18 and its 200 day moving average price is $65.34.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors 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 2.3%. Cisco Systems’s payout ratio is 62.60%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CSCO. UBS Group increased their price objective on Cisco Systems from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. 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 report on Thursday, August 14th. CICC Research assumed coverage on Cisco Systems in a report on Monday, July 14th. They issued an “outperform” rating and a $78.00 price objective on the stock. Barclays raised their price target on Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Finally, Hsbc Global Res downgraded Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.72.
Read Our Latest Stock Report on CSCO
Insider Transactions at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 428 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $68.25, for a total transaction of $29,211.00. Following the sale, the senior vice president directly owned 30,619 shares in the company, valued at approximately $2,089,746.75. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $66.78, for a total value of $116,464.32. Following the sale, the executive vice president owned 158,009 shares in the company, valued at approximately $10,551,841.02. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is owned by company insiders.
Cisco Systems 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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