Redwood Park Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,940 shares of the network equipment provider’s stock after selling 833 shares during the quarter. Cisco Systems accounts for approximately 0.2% of Redwood Park Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Redwood Park Advisors LLC’s holdings in Cisco Systems were worth $343,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after buying an additional 612 shares in the last quarter. Sovran Advisors LLC boosted its holdings in shares of Cisco Systems by 25.0% during the 1st quarter. Sovran Advisors LLC now owns 11,402 shares of the network equipment provider’s stock valued at $704,000 after acquiring an additional 2,278 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Cisco Systems by 5.4% during the 1st quarter. Root Financial Partners LLC now owns 5,443 shares of the network equipment provider’s stock valued at $336,000 after acquiring an additional 277 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Price Performance
Cisco Systems stock opened at $71.39 on Tuesday. The firm has a market cap of $282.22 billion, a P/E ratio of 27.25, a P/E/G ratio of 2.97 and a beta of 0.97. 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 current ratio of 1.00 and a quick ratio of 0.91. The stock’s 50 day moving average is $68.39 and its 200 day moving average is $65.84.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, October 3rd. Cisco Systems’s payout ratio is currently 62.60%.
Insider Buying and Selling
In other Cisco Systems news, EVP Oliver Tuszik sold 17,526 shares of the business’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 transaction, the executive vice president directly owned 198,855 shares of the company’s stock, valued at approximately $13,512,197.25. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,783 shares of the business’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 directly owned 161,662 shares in the company, valued at approximately $10,766,689.20. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,965 shares of company stock worth $5,559,996 over the last three months. Insiders own 0.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CSCO. Wells Fargo & Company raised their price objective on Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Evercore ISI lifted their price target on Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a research note on Thursday, August 14th. Piper Sandler lifted their target price on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. William Blair upgraded shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.72.
Check Out Our Latest Research Report on CSCO
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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