Winthrop Advisory Group LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 8.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,400 shares of the network equipment provider’s stock after purchasing an additional 723 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Cisco Systems were worth $652,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Abel Hall LLC boosted its position in shares of Cisco Systems by 30.9% during the second quarter. Abel Hall LLC now owns 4,773 shares of the network equipment provider’s stock worth $331,000 after acquiring an additional 1,128 shares during the last quarter. Spectrum Asset Management Inc. NB CA boosted its holdings in shares of Cisco Systems by 0.7% during the 2nd quarter. Spectrum Asset Management Inc. NB CA now owns 65,280 shares of the network equipment provider’s stock valued at $4,529,000 after purchasing an additional 433 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in Cisco Systems by 67.5% during the second quarter. Triasima Portfolio Management inc. now owns 25,574 shares of the network equipment provider’s stock valued at $1,774,000 after buying an additional 10,302 shares during the last quarter. REAP Financial Group LLC boosted its stake in Cisco Systems by 94.5% during the second quarter. REAP Financial Group LLC now owns 3,061 shares of the network equipment provider’s stock valued at $212,000 after buying an additional 1,487 shares during the last quarter. Finally, Sax Wealth Advisors LLC boosted its stake in Cisco Systems by 23.8% during the second quarter. Sax Wealth Advisors LLC now owns 11,306 shares of the network equipment provider’s stock valued at $784,000 after buying an additional 2,171 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.
Cisco Systems Trading Up 0.1%
NASDAQ:CSCO opened at $68.99 on Wednesday. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. The firm has a market cap of $272.73 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.90 and a beta of 0.97. The firm has a 50-day simple moving average of $68.14 and a 200-day simple moving average of $64.71.
Cisco Systems Announces Dividend
The company 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 is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems’s payout ratio is currently 62.60%.
Insider Activity
In other news, EVP Oliver Tuszik sold 17,526 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the transaction, the executive vice president directly owned 198,855 shares of the company’s stock, valued at approximately $13,512,197.25. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 9,061 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.60, for a total value of $603,462.60. Following the transaction, the insider directly owned 237,405 shares in the company, valued at approximately $15,811,173. The trade was a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,965 shares of company stock worth $5,559,996 over the last 90 days. 0.01% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
CSCO has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. William Blair upgraded Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, CICC Research started coverage on Cisco Systems in a research report on Monday, July 14th. They issued an “outperform” rating and a $78.00 price target for the company. One 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 company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $74.53.
View Our Latest Analysis on CSCO
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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