Howe & Rusling Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 7.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 18,820 shares of the network equipment provider’s stock after buying an additional 1,273 shares during the quarter. Howe & Rusling Inc.’s holdings in Cisco Systems were worth $1,161,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Pandora Wealth Inc. bought a new stake in shares of Cisco Systems in the first quarter worth $31,000. Nova Wealth Management Inc. bought a new stake in shares of Cisco Systems in the first quarter worth $31,000. Finally, Fairway Wealth LLC lifted its position 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 worth $36,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ CSCO opened at $67.69 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $68.30 and its two-hundred day moving average price is $63.98. Cisco Systems, Inc. has a 1 year low of $48.86 and a 1 year high of $72.55. The firm has a market capitalization of $267.59 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.
Cisco Systems Dividend Announcement
The business 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 dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 62.60%.
Analyst Upgrades and Downgrades
CSCO has been the topic of a number of research reports. Bank of America boosted their price objective on shares of Cisco Systems from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. UBS Group boosted their price objective on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Citigroup boosted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Barclays boosted their price objective on shares of Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Finally, Morgan Stanley boosted their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. One equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.53.
Read Our Latest Report on Cisco Systems
Insider Activity at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 7,511 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $66.84, for a total transaction of $502,035.24. Following the completion of the sale, the executive vice president owned 161,467 shares in the company, valued at approximately $10,792,454.28. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 428 shares of the firm’s stock in a transaction dated 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 owned 30,619 shares of the company’s stock, valued at approximately $2,089,746.75. This represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,099 shares of company stock worth $5,851,765 in the last quarter. 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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