BLB&B Advisors LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,357 shares of the network equipment provider’s stock after purchasing an additional 567 shares during the period. BLB&B Advisors LLC’s holdings in Cisco Systems were worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Cisco Systems by 0.5% during the first quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider’s stock worth $24,002,095,000 after purchasing an additional 1,865,648 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cisco Systems by 10.4% during the first quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider’s stock worth $2,907,599,000 after purchasing an additional 4,437,450 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Cisco Systems by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock valued at $2,898,722,000 after acquiring an additional 12,775,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cisco Systems by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,797,629 shares of the network equipment provider’s stock valued at $2,332,492,000 after acquiring an additional 1,326,354 shares during the last quarter. Finally, Amundi boosted its holdings in Cisco Systems by 11.0% in the first quarter. Amundi now owns 29,170,847 shares of the network equipment provider’s stock valued at $1,679,312,000 after acquiring an additional 2,898,391 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Trading Up 2.2%
Shares of Cisco Systems stock opened at $72.91 on Friday. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $73.11. The firm has a market cap of $287.32 billion, a PE ratio of 27.83, a P/E/G ratio of 3.00 and a beta of 0.97. The stock has a fifty day moving average price of $68.71 and a 200-day moving average price of $66.10. 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 Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 62.60%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on CSCO shares. Weiss Ratings restated a “buy (b)” rating on shares of Cisco Systems in a report on Thursday. HSBC reaffirmed a “hold” rating and set a $69.00 target price on shares of Cisco Systems in a research report on Friday, August 15th. Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Morgan Stanley upped their target price on Cisco Systems from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Piper Sandler upped their target price 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 equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.72.
View Our Latest Analysis on CSCO
Insider Transactions at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,783 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 $651,547.80. Following the completion of the transaction, the executive vice president directly owned 161,662 shares of the company’s stock, valued at $10,766,689.20. This trade represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Oliver Tuszik sold 17,526 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $67.95, for a total value of $1,190,891.70. Following the completion of the sale, the executive vice president directly owned 198,855 shares in the company, valued at approximately $13,512,197.25. The trade was a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 82,965 shares of company stock worth $5,559,996. 0.01% of the stock is owned by corporate insiders.
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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