Trust Co. of Toledo NA OH cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,078 shares of the network equipment provider’s stock after selling 1,072 shares during the quarter. Cisco Systems makes up approximately 0.9% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 21st largest position. Trust Co. of Toledo NA OH’s holdings in Cisco Systems were worth $8,609,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CSCO. Brighton Jones LLC raised its stake 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 buying an additional 24,562 shares during the period. Revolve Wealth Partners LLC grew its holdings in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cisco Systems by 16.6% in the 1st quarter. GAMMA Investing LLC now owns 108,871 shares of the network equipment provider’s stock valued at $6,718,000 after purchasing an additional 15,514 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cisco Systems by 0.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 166,173 shares of the network equipment provider’s stock valued at $10,255,000 after purchasing an additional 484 shares during the last quarter. Finally, Thomasville National Bank lifted its stake in shares of Cisco Systems by 5.8% in the 1st quarter. Thomasville National Bank now owns 22,653 shares of the network equipment provider’s stock valued at $1,398,000 after purchasing an additional 1,241 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Down 2.9%
Cisco Systems stock opened at $67.94 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. The company has a market cap of $268.58 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97. The stock’s 50 day moving average price is $68.24 and its 200 day moving average price is $64.86.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.41 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems’s payout ratio is 62.60%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on CSCO shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cisco Systems in a research note on Wednesday. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price on the stock. CICC Research started coverage on Cisco Systems in a research report on Monday, July 14th. They set an “outperform” rating and a $78.00 target price on the stock. Wolfe Research assumed coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a “peer perform” rating on the stock. Finally, HSBC reiterated a “hold” rating and set a $69.00 price target on shares of Cisco Systems in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.89.
Read Our Latest Stock Report on CSCO
Insider Transactions at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $66.78, for a total value of $116,464.32. Following the sale, the executive vice president directly owned 158,009 shares in the company, valued at $10,551,841.02. The trade was a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 428 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $68.25, for a total value of $29,211.00. Following the sale, the senior vice president owned 30,619 shares in the company, valued at approximately $2,089,746.75. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is owned by company insiders.
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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