Clarius Group LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,770 shares of the network equipment provider’s stock after buying an additional 668 shares during the period. Clarius Group LLC’s holdings in Cisco Systems were worth $1,788,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Brown Shipley& Co Ltd purchased a new position in shares of Cisco Systems in the 2nd quarter worth $32,000. Pandora Wealth Inc. purchased a new position in shares of Cisco Systems in the 1st quarter worth $31,000. Nova Wealth Management Inc. purchased a new position in shares of Cisco Systems in the 1st quarter worth $31,000. Fairway Wealth LLC raised its position in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after buying an additional 400 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Cisco Systems in the 1st quarter worth $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Stock Down 0.6%
NASDAQ:CSCO opened at $67.92 on Friday. The company has a market capitalization of $268.50 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The stock has a 50-day simple moving average of $68.10 and a 200 day simple moving average of $64.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems’s dividend payout ratio (DPR) is currently 62.60%.
Insider Transactions at Cisco Systems
In other Cisco Systems news, insider Jeetendra I. Patel sold 9,061 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $66.60, for a total value of $603,462.60. Following the transaction, the insider owned 237,405 shares of the company’s stock, valued at $15,811,173. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the completion of the transaction, the executive vice president directly owned 161,467 shares in the company, valued at $10,792,454.28. This represents a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock valued at $5,559,996 over the last ninety days. Insiders own 0.01% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. HSBC reaffirmed a “hold” rating and issued a $69.00 target price on shares of Cisco Systems in a research report on Friday, August 15th. William Blair raised Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Wolfe Research initiated coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. CICC Research initiated coverage on Cisco Systems in a research report on Monday, July 14th. They issued an “outperform” rating and a $78.00 price objective on the stock. Finally, Barclays raised their price objective on Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $74.53.
Check Out Our Latest Stock Analysis on Cisco Systems
Cisco Systems Company 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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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