Intrua Financial LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,288 shares of the network equipment provider’s stock after selling 1,678 shares during the period. Intrua Financial LLC’s holdings in Cisco Systems were worth $1,824,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Cisco Systems by 13.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 501,153 shares of the network equipment provider’s stock worth $30,926,000 after buying an additional 60,984 shares during the last quarter. Parcion Private Wealth LLC bought a new position in shares of Cisco Systems in the first quarter valued at approximately $259,000. Finally, Summit X LLC boosted its holdings in shares of Cisco Systems by 16.1% in the 1st quarter. Summit X LLC now owns 4,762 shares of the network equipment provider’s stock worth $294,000 after acquiring an additional 662 shares in the last quarter. 73.33% of the stock is owned by institutional investors.
Cisco Systems Price Performance
Cisco Systems stock opened at $77.38 on Friday. The business’s 50-day simple moving average is $69.64 and its 200 day simple moving average is $67.27. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The stock has a market cap of $304.93 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 3.00 and a beta of 0.95. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $79.50.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.60%.
Insider Buying and Selling at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 2,718 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $68.08, for a total value of $185,041.44. Following the transaction, the executive vice president directly owned 157,184 shares in the company, valued at $10,701,086.72. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Oliver Tuszik sold 17,526 shares of Cisco Systems stock in a transaction 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 directly owned 198,855 shares of the company’s stock, valued at approximately $13,512,197.25. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,089 shares of company stock valued at $2,236,383 in the last three months. Insiders own 0.01% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on CSCO. UBS Group raised their price target on Cisco Systems from $88.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Cisco Systems in a report on Thursday, October 30th. HSBC reaffirmed a “hold” rating and issued a $69.00 price target on shares of Cisco Systems in a report on Friday, August 15th. Melius Research increased their price objective on shares of Cisco Systems from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Cisco Systems from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.32.
Check Out Our Latest Stock Analysis 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.
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