Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,426,258 shares of the network equipment provider’s stock after purchasing an additional 14,984 shares during the quarter. Cisco Systems accounts for approximately 0.5% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 28th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Cisco Systems worth $234,425,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bare Financial Services Inc increased its stake in Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock valued at $25,000 after buying an additional 308 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $25,000. Financial Connections Group Inc. boosted its holdings in shares of Cisco Systems by 89.4% in the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after acquiring an additional 193 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Cisco Systems in the second quarter valued at approximately $28,000. Finally, Lowe Wealth Advisors LLC increased its stake in shares of Cisco Systems by 96.2% during the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Trading Up 0.3%
NASDAQ:CSCO opened at $74.59 on Friday. The stock has a fifty day simple moving average of $76.62 and a 200 day simple moving average of $71.74. The firm has a market capitalization of $294.71 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 2.81 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $80.82. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 2.2%. Cisco Systems’s payout ratio is presently 61.65%.
Insider Transactions at Cisco Systems
In other Cisco Systems news, Director Michael D. Capellas sold 16,150 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $77.28, for a total value of $1,248,072.00. Following the transaction, the director owned 157,218 shares in the company, valued at $12,149,807.04. The trade was a 9.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 56,038 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $78.33, for a total value of $4,389,456.54. Following the sale, the executive vice president directly owned 179,780 shares of the company’s stock, valued at $14,082,167.40. This trade represents a 23.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,044,865 shares of company stock worth $81,397,635. 0.01% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on CSCO shares. President Capital cut their target price on Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Melius Research raised their target price on Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Evercore ISI lifted their target price on Cisco Systems from $74.00 to $80.00 and gave the stock an “in-line” rating in a report on Thursday, November 13th. Finally, CICC Research boosted their price target on shares of Cisco Systems from $78.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $85.86.
Check Out Our Latest Research Report on CSCO
Cisco Systems Company Profile
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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