KPP Advisory Services LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,617 shares of the network equipment provider’s stock after selling 322 shares during the period. KPP Advisory Services LLC’s holdings in Cisco Systems were worth $1,847,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK boosted its holdings in Cisco Systems by 2.2% in the second quarter. Capital Advisors Inc. OK now owns 774,928 shares of the network equipment provider’s stock worth $53,765,000 after acquiring an additional 16,955 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its holdings in shares of Cisco Systems by 1.9% in the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 28,146 shares of the network equipment provider’s stock worth $1,953,000 after buying an additional 535 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its position in shares of Cisco Systems by 6.6% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 31,697 shares of the network equipment provider’s stock valued at $2,199,000 after acquiring an additional 1,968 shares during the period. Belpointe Asset Management LLC raised its stake in Cisco Systems by 5.8% in the 2nd quarter. Belpointe Asset Management LLC now owns 60,090 shares of the network equipment provider’s stock worth $4,169,000 after acquiring an additional 3,311 shares during the last quarter. Finally, Berkshire Money Management Inc. purchased a new stake in Cisco Systems during the 2nd quarter valued at about $200,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Down 0.6%
NASDAQ:CSCO opened at $67.92 on Monday. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $72.55. The stock’s fifty day moving average is $68.10 and its two-hundred day moving average is $64.62. The stock has a market capitalization of $268.50 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.85 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.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors 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 is presently 62.60%.
Insider Transactions at Cisco Systems
In related news, SVP Maria Victoria Wong sold 428 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $68.25, for a total transaction of $29,211.00. Following the completion of the transaction, the senior vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $68.08, for a total value of $185,041.44. Following the completion of the sale, the executive vice president owned 157,184 shares in the company, valued at approximately $10,701,086.72. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,965 shares of company stock valued at $5,559,996 over the last quarter. Insiders own 0.01% of the company’s stock.
Wall Street Analyst Weigh In
CSCO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. William Blair raised Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. KeyCorp assumed coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $87.00 price target on shares of Cisco Systems in a research report on Thursday, August 14th. Finally, Wolfe Research assumed coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $74.53.
Get Our Latest Analysis on Cisco Systems
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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