USAdvisors Wealth Management LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,576 shares of the network equipment provider’s stock, valued at approximately $248,000.
Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Brown Shipley& Co Ltd bought a new position in Cisco Systems in the second quarter worth $32,000. Pandora Wealth Inc. bought a new stake in shares of Cisco Systems during the 1st quarter valued at about $31,000. Nova Wealth Management Inc. purchased a new position in Cisco Systems during the first quarter valued at approximately $31,000. Fairway Wealth LLC boosted its stake in 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 purchasing an additional 400 shares during the period. Finally, Accent Capital Management LLC purchased a new stake in shares of Cisco Systems during the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Trading Down 0.6%
NASDAQ:CSCO opened at $67.92 on Friday. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $72.55. The firm has a market capitalization of $268.50 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. The business’s 50-day moving average is $68.10 and its two-hundred day moving average is $64.59.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s payout ratio is currently 62.60%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Piper Sandler raised their price target on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, August 14th. William Blair upgraded Cisco Systems to a “hold” rating in a research note on Thursday, August 14th. HSBC reiterated a “hold” rating and set a $69.00 price target on shares of Cisco Systems in a research report on Friday, August 15th. Finally, Hsbc Global Res cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.53.
Get Our Latest Stock Analysis on Cisco Systems
Insider Transactions at Cisco Systems
In other news, CEO Charles Robbins sold 30,557 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the completion of the transaction, the chief executive officer directly owned 639,000 shares in the company, valued at approximately $42,576,570. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $66.78, for a total value of $116,464.32. Following the transaction, the executive vice president owned 158,009 shares of the company’s stock, valued at approximately $10,551,841.02. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,965 shares of company stock valued at $5,559,996 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.
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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