Security National Bank purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,618 shares of the network equipment provider’s stock, valued at approximately $239,000.
A number of other hedge funds have also recently modified their holdings of the stock. Wealth Alliance boosted its holdings in Cisco Systems by 5.9% in the third quarter. Wealth Alliance now owns 48,364 shares of the network equipment provider’s stock worth $1,905,000 after acquiring an additional 2,714 shares in the last quarter. Weld Capital Management LLC bought a new stake in Cisco Systems in the third quarter worth $300,000. ExodusPoint Capital Management LP bought a new stake in Cisco Systems in the third quarter worth $897,000. Lombard Odier Asset Management Switzerland SA boosted its holdings in Cisco Systems by 6.6% in the third quarter. Lombard Odier Asset Management Switzerland SA now owns 29,547 shares of the network equipment provider’s stock worth $1,164,000 after acquiring an additional 1,836 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Cisco Systems by 320.2% in the third quarter. Cubist Systematic Strategies LLC now owns 433,138 shares of the network equipment provider’s stock worth $17,061,000 after acquiring an additional 330,059 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors.
CSCO traded down $0.20 during midday trading on Thursday, reaching $51.57. The company had a trading volume of 238,584 shares, compared to its average volume of 22,293,586. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $48.45 and a two-hundred day moving average of $43.93. The company has a market cap of $217.72 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a 1 year low of $35.28 and a 1 year high of $52.94.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio (DPR) is currently 50.68%.
In related news, Director M Michele Burns sold 13,982 shares of the stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $51.55, for a total transaction of $720,772.10. Following the completion of the sale, the director now owns 70,468 shares in the company, valued at $3,632,625.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 8,497 shares of the stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total value of $392,561.40. The disclosure for this sale can be found here. Insiders have sold 37,776 shares of company stock valued at $1,832,205 in the last quarter. 0.02% of the stock is currently owned by company insiders.
Several research firms have commented on CSCO. The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $59.00 in a report on Wednesday, March 31st. Credit Suisse Group upped their price target on Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Piper Sandler upped their price target on Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Oppenheimer reaffirmed a “buy” rating and set a $50.00 price target on shares of Cisco Systems in a report on Tuesday, February 9th. Finally, Raymond James upped their price target on Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.48.
About Cisco Systems
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
Further Reading: Example of operating income, EBIT and EBITDA
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