111 Capital trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 41.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,892 shares of the network equipment provider’s stock after selling 20,107 shares during the quarter. 111 Capital’s holdings in Cisco Systems were worth $1,935,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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. Invesco Ltd. grew its position in shares of 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 buying an additional 4,437,450 shares during the period. Goldman Sachs Group Inc. grew 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 worth $2,898,722,000 after buying an additional 12,775,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cisco Systems by 3.6% during 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 worth $2,332,492,000 after buying an additional 1,326,354 shares during the period. Finally, Amundi grew its position in shares of Cisco Systems by 11.0% during the 1st quarter. Amundi now owns 29,170,847 shares of the network equipment provider’s stock worth $1,679,312,000 after buying an additional 2,898,391 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Trading Down 0.6%
Shares of Cisco Systems stock opened at $67.92 on Friday. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $72.55. The stock has a market cap of $268.50 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.87 and a beta of 0.97. 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 business’s 50 day moving average is $68.10 and its 200-day moving average is $64.57.
Cisco Systems Dividend Announcement
The business also recently disclosed 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. The ex-dividend date is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems’s dividend payout ratio is currently 62.60%.
Analysts Set New Price Targets
CSCO has been the subject of several analyst reports. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $87.00 price objective on shares of Cisco Systems in a research report on Thursday, August 14th. Wolfe Research started coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating for the company. Finally, CICC Research started coverage on Cisco Systems in a research report on Monday, July 14th. They issued an “outperform” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $74.53.
View Our Latest Report on CSCO
Insider Activity at Cisco Systems
In other news, CEO Charles Robbins sold 30,557 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the sale, the chief executive officer owned 639,000 shares in the company, valued at $42,576,570. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 428 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $68.25, for a total value of $29,211.00. Following the sale, the senior vice president owned 30,619 shares in the company, valued at approximately $2,089,746.75. This represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,965 shares of company stock worth $5,559,996. Insiders own 0.01% of the company’s stock.
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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