Caliber Wealth Management LLC KS boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 38.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,428 shares of the network equipment provider’s stock after buying an additional 2,615 shares during the period. Caliber Wealth Management LLC KS’s holdings in Cisco Systems were worth $654,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Members Trust Co boosted its stake in Cisco Systems by 12.1% during the second quarter. Members Trust Co now owns 12,467 shares of the network equipment provider’s stock worth $865,000 after buying an additional 1,349 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in Cisco Systems during the second quarter worth $1,307,000. Brookstone Capital Management boosted its stake in Cisco Systems by 1.3% during the second quarter. Brookstone Capital Management now owns 35,758 shares of the network equipment provider’s stock worth $2,481,000 after buying an additional 450 shares in the last quarter. Phillips Financial Management LLC bought a new position in shares of Cisco Systems during the second quarter valued at $208,000. Finally, Jacobsen Capital Management lifted its holdings in shares of Cisco Systems by 30.3% during the second quarter. Jacobsen Capital Management now owns 8,081 shares of the network equipment provider’s stock valued at $561,000 after acquiring an additional 1,880 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Performance
Shares of NASDAQ:CSCO opened at $70.66 on Thursday. The stock has a market capitalization of $279.33 billion, a P/E ratio of 26.97, a P/E/G ratio of 2.98 and a beta of 0.97. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. 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 business has a 50-day moving average price of $68.19 and a two-hundred day moving average price of $65.38.
Cisco Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. Cisco Systems’s dividend payout ratio is 62.60%.
Insider Buying and Selling
In other news, CEO Charles Robbins sold 30,557 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $66.63, for a total value of $2,036,012.91. Following the completion of the sale, the chief executive officer directly owned 639,000 shares of the company’s stock, valued at $42,576,570. This represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $66.78, for a total value of $116,464.32. Following the completion of the transaction, the executive vice president owned 158,009 shares of the company’s stock, valued at $10,551,841.02. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,965 shares of company stock worth $5,559,996 over the last quarter. Insiders own 0.01% of the company’s stock.
Analysts Set New Price Targets
CSCO has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cisco Systems in a report on Wednesday, October 8th. Wall Street Zen cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Piper Sandler raised their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. Wolfe Research began coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company raised their price target on shares of Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.72.
Read Our Latest Report on Cisco Systems
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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