HBW Advisory Services LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,566 shares of the network equipment provider’s stock after purchasing an additional 577 shares during the period. HBW Advisory Services LLC’s holdings in Cisco Systems were worth $525,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth approximately $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in Cisco Systems in the 1st quarter worth about $31,000. Nova Wealth Management Inc. purchased a new stake in Cisco Systems in the 1st quarter worth about $31,000. Finally, Fairway Wealth LLC lifted its stake in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Down 1.7%
Shares of CSCO stock opened at $66.53 on Friday. The stock’s 50 day simple moving average is $68.24 and its 200 day simple moving average is $64.00. 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, Inc. has a twelve month low of $49.67 and a twelve month high of $72.55. The company has a market capitalization of $263.01 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.84 and a beta of 0.99.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on CSCO shares. HSBC reissued a “hold” rating and issued a $69.00 price objective on shares of Cisco Systems in a research note on Friday, August 15th. Rosenblatt Securities reissued a “buy” rating and issued a $87.00 price objective on shares of Cisco Systems in a research note on Thursday, August 14th. Wells Fargo & Company upped their target price on Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Bank of America upped their target price on Cisco Systems from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Finally, Wolfe Research started coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.53.
Get Our Latest Stock Report on CSCO
Insider Transactions at Cisco Systems
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 7,511 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total value of $502,035.24. Following the completion of the sale, the executive vice president owned 161,467 shares in the company, valued at approximately $10,792,454.28. This trade represents a 4.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 30,557 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company’s stock, 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 three months, insiders have sold 88,099 shares of company stock worth $5,851,765. Insiders own 0.01% of the company’s stock.
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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