Wealth Architects LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 22,077 shares of the network equipment provider’s stock after selling 1,603 shares during the period. Wealth Architects LLC’s holdings in Cisco Systems were worth $1,532,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Postrock Partners LLC raised its position in shares of Cisco Systems by 4.5% in the second quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock valued at $241,000 after buying an additional 150 shares during the last quarter. Mount Vernon Associates Inc. MD raised its holdings in Cisco Systems by 0.4% in the 2nd quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock valued at $2,871,000 after acquiring an additional 150 shares during the last quarter. Lion Street Advisors LLC raised its holdings in Cisco Systems by 0.7% in the 2nd quarter. Lion Street Advisors LLC now owns 20,694 shares of the network equipment provider’s stock valued at $1,436,000 after acquiring an additional 152 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in shares of Cisco Systems by 0.5% during the 2nd quarter. Pacifica Partners Inc. now owns 34,060 shares of the network equipment provider’s stock worth $2,338,000 after purchasing an additional 155 shares during the last quarter. Finally, Pacific Sage Partners LLC grew its position in shares of Cisco Systems by 0.9% in the second quarter. Pacific Sage Partners LLC now owns 16,746 shares of the network equipment provider’s stock valued at $1,162,000 after purchasing an additional 156 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Trading Down 2.9%
NASDAQ CSCO opened at $67.94 on Monday. 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 stock has a market capitalization of $268.58 billion, a P/E ratio of 25.93, a PEG ratio of 2.86 and a beta of 0.97. The firm’s 50-day moving average is $68.24 and its two-hundred day moving average is $64.90. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $72.55.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio is 62.60%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on CSCO. William Blair upgraded Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Piper Sandler lifted 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. Wolfe Research began coverage on shares of Cisco Systems in a report 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 Wednesday, October 8th. Finally, HSBC reiterated a “hold” rating and issued a $69.00 target price on shares of Cisco Systems in a report on Friday, August 15th. 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’s stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $74.89.
Get Our Latest Analysis on Cisco Systems
Insider Buying and Selling at Cisco Systems
In other news, insider Jeetendra I. Patel sold 9,061 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.60, for a total transaction of $603,462.60. Following the completion of the transaction, the insider directly owned 237,405 shares in the company, valued at $15,811,173. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 30,557 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $66.63, for a total value of $2,036,012.91. Following the completion of the sale, the chief executive officer owned 639,000 shares in the company, valued at $42,576,570. This represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,965 shares of company stock valued at $5,559,996. Corporate insiders own 0.01% of the company’s stock.
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. 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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