Bluedoor Private Wealth LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the fourth quarter, Holdings Channel reports. The fund purchased 4,676 shares of the network equipment provider’s stock, valued at approximately $360,000.
A number of other large investors also recently added to or reduced their stakes in CSCO. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% during the fourth 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 raised its stake in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after acquiring an additional 2,474 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Cisco Systems by 7.5% in the second quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock valued at $706,000 after acquiring an additional 712 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Cisco Systems by 3.9% in the second quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider’s stock valued at $969,000 after acquiring an additional 519 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Cisco Systems by 118.1% in the second quarter. Marshall Wace LLP now owns 90,650 shares of the network equipment provider’s stock valued at $6,289,000 after acquiring an additional 590,650 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Down 0.8%
Cisco Systems stock opened at $120.17 on Tuesday. Cisco Systems, Inc. has a 1-year low of $64.85 and a 1-year high of $130.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a market cap of $473.64 billion, a PE ratio of 39.02, a P/E/G ratio of 3.09 and a beta of 1.01. The stock’s fifty day moving average is $103.10 and its two-hundred day moving average is $86.88.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th will be paid a $0.42 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.68 dividend on an annualized basis and a yield of 1.4%. Cisco Systems’s dividend payout ratio (DPR) is currently 54.55%.
Insiders Place Their Bets
In other Cisco Systems news, EVP Oliver Tuszik sold 2,607 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $121.12, for a total value of $315,759.84. Following the sale, the executive vice president directly owned 172,727 shares in the company, valued at $20,920,694.24. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Deborah L. Stahlkopf sold 6,586 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $117.31, for a total value of $772,603.66. Following the completion of the sale, the executive vice president owned 177,223 shares in the company, valued at approximately $20,790,030.13. This represents a 3.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 43,655 shares of company stock valued at $5,063,970 in the last three months. Corporate insiders own 0.01% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on CSCO. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $95.00 to $96.00 in a research note on Monday, May 11th. Morgan Stanley increased their price objective on Cisco Systems from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings upgraded Cisco Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Erste Group Bank cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, CICC Research increased their price objective on Cisco Systems from $96.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight 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 $122.90.
Read Our Latest Research Report on Cisco Systems
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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