Regent Peak Wealth Advisors LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) in the third quarter, Holdings Channel reports. The fund acquired 7,866 shares of the network equipment provider’s stock, valued at approximately $538,000.
Several other institutional investors have also made changes to their positions in CSCO. Trust Co. of Toledo NA OH raised its holdings in shares of Cisco Systems by 0.6% during the third quarter. Trust Co. of Toledo NA OH now owns 124,848 shares of the network equipment provider’s stock valued at $8,542,000 after acquiring an additional 770 shares during the period. Precision Wealth Strategies LLC raised its stake in Cisco Systems by 14.0% during the 3rd quarter. Precision Wealth Strategies LLC now owns 36,204 shares of the network equipment provider’s stock valued at $2,477,000 after purchasing an additional 4,448 shares during the period. Blue Trust Inc. lifted its holdings in shares of Cisco Systems by 0.6% in the third quarter. Blue Trust Inc. now owns 40,251 shares of the network equipment provider’s stock valued at $2,754,000 after purchasing an additional 226 shares in the last quarter. Sheets Smith Wealth Management boosted its position in shares of Cisco Systems by 1.2% in the third quarter. Sheets Smith Wealth Management now owns 15,247 shares of the network equipment provider’s stock worth $1,043,000 after buying an additional 185 shares during the period. Finally, Avanza Fonder AB grew its holdings in shares of Cisco Systems by 10.1% during the third quarter. Avanza Fonder AB now owns 404,549 shares of the network equipment provider’s stock valued at $27,679,000 after buying an additional 37,045 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Stock Performance
Shares of CSCO opened at $78.27 on Friday. The firm has a market cap of $309.27 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.95 and a beta of 0.87. The company’s fifty day moving average is $75.35 and its 200-day moving average is $70.54. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.46. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $80.82.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.1%. Cisco Systems’s dividend payout ratio is currently 61.65%.
Insiders Place Their Bets
In other news, EVP Deborah L. Stahlkopf sold 164,584 shares of Cisco Systems stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $77.85, for a total value of $12,812,864.40. Following the transaction, the executive vice president owned 196,738 shares of the company’s stock, valued at $15,316,053.30. This trade represents a 45.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeetendra I. Patel sold 163,896 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $77.86, for a total transaction of $12,760,942.56. Following the completion of the sale, the insider owned 281,108 shares of the company’s stock, valued at $21,887,068.88. The trade was a 36.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,044,865 shares of company stock worth $81,397,635 in the last three months. 0.01% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Evercore ISI increased their price objective on Cisco Systems from $74.00 to $80.00 and gave the stock an “in-line” rating in a research note on Thursday, November 13th. Bank of America increased their price target on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Wall Street Zen downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, CICC Research lifted their target price on shares of Cisco Systems from $78.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.70.
Get Our Latest Stock Analysis on CSCO
About Cisco Systems
Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.
In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.
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