Whipplewood Advisors LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 9.1% in the second quarter, HoldingsChannel reports. The firm owned 3,132 shares of the network equipment provider’s stock after acquiring an additional 261 shares during the quarter. Whipplewood Advisors LLC’s holdings in Cisco Systems were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of CSCO. Brighton Jones LLC lifted its holdings in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after acquiring an additional 2,474 shares during the period. Golden State Wealth Management LLC lifted its holdings in Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after acquiring an additional 612 shares during the period. Convergence Financial LLC lifted its holdings in Cisco Systems by 16.3% in the first quarter. Convergence Financial LLC now owns 5,156 shares of the network equipment provider’s stock valued at $318,000 after acquiring an additional 724 shares during the period. Finally, TBH Global Asset Management LLC lifted its holdings in Cisco Systems by 9.5% in the first quarter. TBH Global Asset Management LLC now owns 6,590 shares of the network equipment provider’s stock valued at $407,000 after acquiring an additional 572 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Up 0.5%
Shares of CSCO opened at $70.63 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The stock has a market capitalization of $279.21 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.97 and a beta of 0.97. The stock has a 50 day moving average price of $68.30 and a 200 day moving average price of $65.75.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, October 3rd. Cisco Systems’s payout ratio is presently 62.60%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CSCO. Bank of America boosted their price target on Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Piper Sandler upped their target price on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Wells Fargo & Company upped their target price on Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. UBS Group upped their target price on Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, William Blair raised Cisco Systems to a “hold” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.72.
Read Our Latest Analysis on CSCO
Insider Activity
In related news, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was 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 directly owned 158,009 shares in the company, valued at approximately $10,551,841.02. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 17,526 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $67.95, for a total value of $1,190,891.70. Following the sale, the executive vice president owned 198,855 shares of the company’s stock, valued at $13,512,197.25. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,965 shares of company stock valued at $5,559,996 in the last three months. Company insiders own 0.01% of the company’s stock.
About Cisco Systems
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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