Paulson Wealth Management Inc. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,587 shares of the network equipment provider’s stock after selling 861 shares during the quarter. Paulson Wealth Management Inc.’s holdings in Cisco Systems were worth $943,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Financial Connections Group Inc. increased its position in shares of Cisco Systems by 89.4% during the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Pandora Wealth Inc. bought a new stake in Cisco Systems in the 1st quarter valued at $31,000. Nova Wealth Management Inc. acquired a new position in Cisco Systems in the 1st quarter worth $31,000. Brown Shipley& Co Ltd bought a new position in Cisco Systems during the 2nd quarter worth about $32,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Cisco Systems in the 1st quarter valued at about $36,000. Institutional investors own 73.33% of the company’s stock.
Cisco Systems Trading Down 1.5%
Cisco Systems stock opened at $71.04 on Friday. The stock has a 50-day simple moving average of $69.15 and a 200 day simple moving average of $66.66. The stock has a market capitalization of $279.95 billion, a P/E ratio of 27.11, a PEG ratio of 3.00 and a beta of 0.95. 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 52 week low of $52.11 and a 52 week high of $74.84.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. Cisco Systems’s payout ratio is presently 62.60%.
Insiders Place Their Bets
In other Cisco Systems news, CEO Charles Robbins sold 30,557 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $66.63, for a total value of $2,036,012.91. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the sale, the executive vice president owned 161,467 shares of the company’s stock, valued at $10,792,454.28. This trade represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,965 shares of company stock worth $5,559,996 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.
Analyst Upgrades and Downgrades
CSCO has been the subject of several recent research reports. Barclays upped their price objective on Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Evercore ISI raised their price target on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research note on Thursday, August 14th. Hsbc Global Res lowered shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. HSBC restated a “hold” rating and set a $69.00 target price on shares of Cisco Systems in a report on Friday, August 15th. Finally, Morgan Stanley lifted their price target on shares of Cisco Systems from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.50.
Check Out Our Latest Research Report 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.
Featured Stories
- Five stocks we like better than Cisco Systems
- Investing in the High PE Growth Stocks
- Why Investors Shouldn’t Fear the Dip in Microsoft Stock
- Buy P&G Now, Before It Sets A New All-Time High
- DigitalOcean’s Tide Has Turned: Get Ready to Ride the Wave
- The Significance of Brokerage Rankings in Stock Selection
- CAVA Stock Looking for Direction After Earnings Miss
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Free Report).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.
