First National Bank of Hutchinson purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,000 shares of the network equipment provider’s stock, valued at approximately $411,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Benchmark Financial Wealth Advisors LLC boosted its position in Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock valued at $715,000 after acquiring an additional 142 shares during the last quarter. Yoder Wealth Management Inc. raised its position in shares of Cisco Systems by 3.8% in the 3rd quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock worth $270,000 after acquiring an additional 143 shares in the last quarter. Wynn Capital LLC lifted its stake in shares of Cisco Systems by 0.3% in the 3rd quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock valued at $3,315,000 after purchasing an additional 150 shares during the period. Old North State Trust LLC boosted its position in shares of Cisco Systems by 0.6% during the 2nd quarter. Old North State Trust LLC now owns 24,534 shares of the network equipment provider’s stock valued at $1,702,000 after purchasing an additional 151 shares in the last quarter. Finally, Lion Street Advisors LLC grew its stake in Cisco Systems by 0.7% during the second quarter. Lion Street Advisors LLC now owns 20,694 shares of the network equipment provider’s stock worth $1,436,000 after purchasing an additional 152 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Trading Up 2.9%
NASDAQ:CSCO opened at $84.78 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.83. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $85.00. The company has a market cap of $334.97 billion, a PE ratio of 31.87, a PEG ratio of 3.21 and a beta of 0.87. The firm has a 50-day moving average of $77.35 and a 200-day moving average of $72.62.
Cisco Systems Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were paid a dividend of $0.41 per share. The ex-dividend date was Friday, January 2nd. This represents a $1.64 annualized dividend and a yield of 1.9%. Cisco Systems’s dividend payout ratio (DPR) is 61.65%.
Insider Activity
In related news, insider Jeetendra I. Patel sold 163,896 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $77.86, for a total transaction of $12,760,942.56. Following the transaction, the insider directly owned 281,108 shares in the company, valued at approximately $21,887,068.88. The trade was a 36.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 164,584 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $77.85, for a total transaction of $12,812,864.40. Following the completion of the sale, the executive vice president owned 196,738 shares of the company’s stock, valued at approximately $15,316,053.30. This trade represents a 45.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,044,865 shares of company stock worth $81,397,635. Company insiders own 0.01% of the company’s stock.
Analysts Set New Price Targets
CSCO has been the topic of several recent analyst reports. Bank of America boosted their price target on Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Evercore boosted their target price on shares of Cisco Systems from $100.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Wall Street Zen cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Barclays lifted their price target on shares of Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Finally, HSBC raised their target price on Cisco Systems from $69.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.
View Our Latest Research Report on CSCO
About Cisco Systems
Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.
In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.
Featured Articles
- Five stocks we like better than Cisco Systems
- The buying spree that no one is talking about
- Virtually Limitless Energy
- The $650 Million Bet on AI’s Future
- The gold chart Wall Street is terrified of…
- NEW LAW: Congress Approves Setup For Digital Dollar?
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.
