Boyd Watterson Asset Management LLC OH raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,445 shares of the network equipment provider’s stock after purchasing an additional 152 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Cisco Systems were worth $725,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Connections Group Inc. increased its position in Cisco Systems by 89.4% during the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 193 shares during the period. Pandora Wealth Inc. acquired a new stake in Cisco Systems during the 1st quarter valued at approximately $31,000. Nova Wealth Management Inc. acquired a new stake in Cisco Systems during the 1st quarter valued at approximately $31,000. Brown Shipley& Co Ltd acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $32,000. Finally, Fairway Wealth LLC increased its position in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ CSCO opened at $71.39 on Tuesday. The company has a fifty day simple moving average of $68.39 and a 200 day simple moving average of $65.84. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month 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 company has a market cap of $282.22 billion, a P/E ratio of 27.25, a PEG ratio of 2.97 and a beta of 0.97.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.3%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.60%.
Insiders Place Their Bets
In other Cisco Systems news, EVP Oliver Tuszik sold 17,526 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the transaction, the executive vice president directly owned 198,855 shares in the company, valued at approximately $13,512,197.25. This trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, the executive vice president owned 157,184 shares in the company, valued at approximately $10,701,086.72. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock worth $5,559,996 in the last quarter. Insiders own 0.01% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CSCO. Evercore ISI raised their price objective on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. raised 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. William Blair raised shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. UBS Group raised their price objective on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Finally, Hsbc Global Res downgraded shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $74.72.
Read Our Latest Stock Analysis 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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