Wealthcare Advisory Partners LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 8.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,552 shares of the network equipment provider’s stock after acquiring an additional 7,081 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cisco Systems were worth $6,005,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brown Shipley& Co Ltd bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $32,000. Pandora Wealth Inc. acquired a new position in shares of Cisco Systems in the first quarter worth approximately $31,000. Nova Wealth Management Inc. bought a new stake in Cisco Systems in the first quarter valued at approximately $31,000. Fairway Wealth LLC increased its position in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Finally, Accent Capital Management LLC bought a new position in Cisco Systems during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ CSCO opened at $67.92 on Monday. The company’s 50 day simple moving average is $68.10 and its two-hundred day simple moving average is $64.62. 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, Inc. has a 1 year low of $52.11 and a 1 year high of $72.55. The stock has a market capitalization of $268.50 billion, a PE ratio of 25.92, a P/E/G ratio of 2.85 and a beta of 0.97.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.
Analysts Set New Price Targets
Several research firms have recently weighed in on CSCO. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. William Blair raised Cisco Systems to a “hold” rating in a research note on Thursday, August 14th. Morgan Stanley boosted their price target on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Wolfe Research began coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. Finally, CICC Research assumed coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an “outperform” rating and a $78.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.53.
Read Our Latest Report on Cisco Systems
Insider Activity at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 7,511 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $66.84, for a total value of $502,035.24. Following the transaction, the executive vice president directly owned 161,467 shares in the company, valued at approximately $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 30,557 shares of Cisco Systems stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the sale, the chief executive officer owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,965 shares of company stock valued at $5,559,996 in the last ninety days. 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.
Recommended Stories
- Five stocks we like better than Cisco Systems
- Investing In Preferred Stock vs. Common Stock
- 3 Defense Stocks Surging as Ukraine Tensions Deepen
- Health Care Stocks Explained: Why You Might Want to Invest
- Starbucks Stock Slumps; This Competitor Shows Strength
- 3 Grocery Stocks That Are Proving They Are Still Essential
- The Trade Desk: 2 Signs of a Comeback, 1 Risk Ahead
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Free Report).
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.