JJJ Advisors Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,579 shares of the network equipment provider’s stock after acquiring an additional 1,026 shares during the quarter. JJJ Advisors Inc.’s holdings in Cisco Systems were worth $392,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. raised its holdings in Cisco Systems by 2.8% during the first quarter. Cardinal Capital Management Inc. now owns 504,108 shares of the network equipment provider’s stock valued at $26,067,000 after buying an additional 13,615 shares in the last quarter. Northwest Bancshares Inc. lifted its position in Cisco Systems by 1.8% during the 1st quarter. Northwest Bancshares Inc. now owns 141,417 shares of the network equipment provider’s stock worth $7,313,000 after buying an additional 2,468 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $1,835,000. Tealwood Asset Management Inc. lifted its position in Cisco Systems by 80.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 65,171 shares of the network equipment provider’s stock worth $2,916,000 after buying an additional 29,009 shares in the last quarter. Finally, Doyle Wealth Management lifted its position in Cisco Systems by 38.5% during the 4th quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after buying an additional 7,672 shares in the last quarter. 70.62% of the stock is owned by institutional investors and hedge funds.
CSCO stock traded down $0.23 during midday trading on Tuesday, reaching $50.94. The company had a trading volume of 111,978 shares, compared to its average volume of 21,005,725. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.59 and a quick ratio of 1.54. Cisco Systems, Inc. has a 1 year low of $35.28 and a 1 year high of $53.18. The company has a market capitalization of $215.06 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.54 and a beta of 0.95. The firm has a 50-day moving average price of $51.33 and a 200-day moving average price of $45.58.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th were paid a $0.37 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, April 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.91%. Cisco Systems’s dividend payout ratio is 50.68%.
In other Cisco Systems news, EVP Mark D. Chandler sold 3,024 shares of the stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $142,763.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Prat Bhatt sold 6,273 shares of the stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $296,148.33. Following the sale, the chief accounting officer now directly owns 119,282 shares of the company’s stock, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Insiders sold a total of 37,776 shares of company stock valued at $1,832,205 in the last ninety days. 0.02% of the stock is owned by corporate insiders.
Several research firms recently issued reports on CSCO. Wolfe Research upgraded shares of Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Thursday, April 22nd. KeyCorp reissued a “sector weight” rating on shares of Cisco Systems in a research note on Thursday, April 29th. Credit Suisse Group lifted their price objective on shares of Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Citigroup boosted their price target on shares of Cisco Systems from $45.00 to $50.00 in a report on Wednesday, February 10th. Finally, The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $59.00 in a report on Wednesday, March 31st. Fourteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Cisco Systems presently has a consensus rating of “Hold” and an average price target of $50.71.
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 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.
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