Aull & Monroe Investment Management Corp grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 22.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,976 shares of the network equipment provider’s stock after buying an additional 725 shares during the period. Aull & Monroe Investment Management Corp’s holdings in Cisco Systems were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. boosted its holdings in Cisco Systems by 89.4% during the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Cisco Systems during the first quarter worth about $31,000. Nova Wealth Management Inc. acquired a new stake in shares of Cisco Systems during the first quarter worth about $31,000. Brown Shipley& Co Ltd acquired a new stake in shares of Cisco Systems during the second quarter worth about $32,000. Finally, Fairway Wealth LLC raised its position in shares of Cisco Systems by 224.7% during the first 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. Institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Up 1.5%
Shares of Cisco Systems stock opened at $70.13 on Friday. The business’s 50 day simple moving average is $68.20 and its 200 day simple moving average is $65.14. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $72.55. The firm has a market cap of $277.24 billion, a PE ratio of 26.77, a P/E/G ratio of 2.95 and a beta of 0.97. 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 Dividend Announcement
The business 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 $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 62.60%.
Wall Street Analysts Forecast Growth
CSCO has been the topic of a number of research analyst reports. Bank of America raised their price target on Cisco Systems from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Barclays raised their price target on Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. CICC Research initiated coverage on Cisco Systems in a research report on Monday, July 14th. They set an “outperform” rating and a $78.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $87.00 price target on shares of Cisco Systems in a research report on Thursday, August 14th. Finally, Piper Sandler raised their price target on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.72.
View Our Latest Research Report on Cisco Systems
Insider Transactions at Cisco Systems
In other Cisco Systems news, EVP Oliver Tuszik sold 17,526 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $67.95, for a total value of $1,190,891.70. Following the completion of the transaction, the executive vice president directly owned 198,855 shares in the company, valued at $13,512,197.25. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 9,783 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were 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 of the company’s stock, valued at approximately $10,766,689.20. This represents a 5.71% decrease in their ownership of the stock. 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. 0.01% of the stock is owned by insiders.
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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