CW Advisors LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 530,640 shares of the network equipment provider’s stock after purchasing an additional 101,422 shares during the quarter. CW Advisors LLC’s holdings in Cisco Systems were worth $36,816,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its holdings in Cisco Systems by 1.1% in the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock valued at $29,163,000 after acquiring an additional 4,525 shares during the last quarter. Drive Wealth Management LLC boosted its position in shares of Cisco Systems by 2.7% during the 2nd quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock worth $1,152,000 after purchasing an additional 436 shares during the period. Shell Asset Management Co. boosted its position in shares of Cisco Systems by 53.3% during the 2nd quarter. Shell Asset Management Co. now owns 77,234 shares of the network equipment provider’s stock worth $5,358,000 after purchasing an additional 26,840 shares during the period. Guinness Asset Management LTD increased its holdings in Cisco Systems by 15.9% in the 2nd quarter. Guinness Asset Management LTD now owns 4,389,728 shares of the network equipment provider’s stock valued at $304,451,000 after purchasing an additional 603,131 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Cisco Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after purchasing an additional 1,157,704 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of CSCO opened at $76.87 on Wednesday. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $80.06. The stock has a market capitalization of $303.72 billion, a PE ratio of 28.90, a PEG ratio of 2.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 0.93. The stock has a 50-day simple moving average of $72.05 and a 200-day simple moving average of $68.91.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, January 2nd. Cisco Systems’s payout ratio is 61.65%.
Analyst Upgrades and Downgrades
CSCO has been the subject of several research analyst reports. Barclays raised their price target on Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research report on Thursday, October 30th. Evercore ISI boosted their price target on shares of Cisco Systems from $74.00 to $80.00 and gave the stock an “in-line” rating in a research note on Thursday, November 13th. CICC Research increased their price target on shares of Cisco Systems from $78.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Finally, Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.
Check Out Our Latest Research Report on CSCO
Insider Activity
In other news, EVP Deborah L. Stahlkopf sold 164,584 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $77.85, for a total transaction of $12,812,864.40. Following the completion of the transaction, the executive vice president directly owned 196,738 shares of the company’s stock, valued at approximately $15,316,053.30. This represents a 45.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Oliver Tuszik sold 17,526 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,024,627 shares of company stock valued at $79,621,482. Insiders own 0.01% of the company’s stock.
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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