Defined Financial Planning LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 16.6% during the second quarter, HoldingsChannel reports. The fund owned 3,825 shares of the network equipment provider’s stock after selling 762 shares during the period. Defined Financial Planning LLC’s holdings in Cisco Systems were worth $257,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CSCO. Pandora Wealth Inc. acquired a new stake in Cisco Systems during the first quarter worth approximately $31,000. Nova Wealth Management Inc. purchased a new position in shares of Cisco Systems in the 1st quarter valued at $31,000. Brown Shipley& Co Ltd acquired a new stake in Cisco Systems during the 2nd quarter worth $32,000. Fairway Wealth LLC lifted its position in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in Cisco Systems in the first quarter valued at $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ:CSCO opened at $68.91 on Tuesday. The firm has a market cap of $272.42 billion, a price-to-earnings ratio of 26.30, 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. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. The firm’s fifty day moving average price is $68.12 and its 200 day moving average price is $64.68.
Cisco Systems Dividend Announcement
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 given a dividend of $0.41 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.4%. Cisco Systems’s payout ratio is presently 62.60%.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,783 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.60, for a total value of $651,547.80. Following the completion of the transaction, the executive vice president owned 161,662 shares in the company, valued at approximately $10,766,689.20. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 9,061 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $66.60, for a total value of $603,462.60. Following the completion of the sale, the insider directly owned 237,405 shares of the company’s stock, valued at approximately $15,811,173. This trade represents a 3.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,965 shares of company stock worth $5,559,996. 0.01% of the stock is currently owned by company insiders.
Analyst Ratings Changes
CSCO has been the topic of a number of research analyst reports. HSBC reiterated a “hold” rating and set a $69.00 target price on shares of Cisco Systems in a research report on Friday, August 15th. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Cisco Systems in a research report on Saturday, September 27th. William Blair upgraded shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Finally, KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.53.
Check Out Our Latest Research Report 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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