KG&L Capital Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,452 shares of the network equipment provider’s stock after acquiring an additional 2,333 shares during the quarter. Cisco Systems comprises about 1.0% of KG&L Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. KG&L Capital Management LLC’s holdings in Cisco Systems were worth $1,109,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Evolution Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at about $33,000. Lowe Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at about $38,000. Personal Wealth Partners bought a new stake in shares of Cisco Systems during the second quarter valued at about $44,000. Ashburton Jersey Ltd bought a new stake in Cisco Systems in the second quarter worth about $49,000. Finally, Lucia Wealth Services LLC raised its position in Cisco Systems by 72.3% in the second quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock worth $63,000 after acquiring an additional 480 shares in the last quarter. 73.31% of the stock is owned by institutional investors.
NASDAQ CSCO opened at $46.56 on Friday. The stock’s 50-day moving average price is $48.12 and its two-hundred day moving average price is $53.20. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The company has a market cap of $198.85 billion, a PE ratio of 16.61, a PEG ratio of 2.26 and a beta of 1.28. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 annualized dividend and a yield of 3.01%. Cisco Systems’s payout ratio is presently 49.12%.
In other Cisco Systems news, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the transaction, the chief financial officer now directly owns 277,548 shares in the company, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,130 shares of company stock worth $9,359,179. Corporate insiders own 0.03% of the company’s stock.
Several equities research analysts have commented on CSCO shares. ValuEngine cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Barclays started coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price target on the stock. Bank of America reiterated a “buy” rating and issued a $62.00 price target on shares of Cisco Systems in a research report on Wednesday, July 10th. Raymond James reiterated an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Finally, Citigroup dropped their price target on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $56.04.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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