Relyea Zuckerberg Hanson LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,697 shares of the network equipment provider’s stock after acquiring an additional 1,968 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Cisco Systems were worth $2,199,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Belpointe Asset Management LLC raised its holdings in shares of 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 valued at $4,169,000 after purchasing an additional 3,311 shares during the period. Berkshire Money Management Inc. acquired a new position in Cisco Systems during the second quarter worth approximately $200,000. Valley National Advisers Inc. raised its stake in Cisco Systems by 1.3% in the second quarter. Valley National Advisers Inc. now owns 13,456 shares of the network equipment provider’s stock valued at $933,000 after buying an additional 176 shares during the period. Appleton Partners Inc. MA lifted its position in shares of Cisco Systems by 7.4% in the second quarter. Appleton Partners Inc. MA now owns 20,880 shares of the network equipment provider’s stock valued at $1,449,000 after buying an additional 1,444 shares during the last quarter. Finally, PUREfi Wealth LLC increased its holdings in shares of Cisco Systems by 32.2% during the 2nd quarter. PUREfi Wealth LLC now owns 5,184 shares of the network equipment provider’s stock worth $360,000 after acquiring an additional 1,263 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Down 0.6%
Shares of 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 company has a market capitalization of $268.50 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. The company has a fifty day moving average of $68.10 and a 200-day moving average of $64.62.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.
Analyst Ratings Changes
A number of equities analysts have commented on CSCO shares. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. UBS Group increased their price target on shares of Cisco Systems from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. CICC Research initiated coverage on Cisco Systems in a report on Monday, July 14th. They set an “outperform” rating and a $78.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $87.00 target price on shares of Cisco Systems in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.53.
Get Our Latest Stock Report on CSCO
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $66.78, for a total transaction of $116,464.32. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 157,184 shares in the company, valued at $10,701,086.72. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,965 shares of company stock worth $5,559,996 over the last quarter. 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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