Wealthedge Investment Advisors LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,276 shares of the network equipment provider’s stock, valued at approximately $227,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC grew its position in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Cisco Systems in the first quarter valued at approximately $222,000. Beta Wealth Group Inc. raised its holdings in shares of Cisco Systems by 2.2% during the first quarter. Beta Wealth Group Inc. now owns 9,525 shares of the network equipment provider’s stock valued at $588,000 after buying an additional 206 shares during the last quarter. Finally, DCF Advisers LLC boosted its position in shares of Cisco Systems by 52.9% during the first quarter. DCF Advisers LLC now owns 65,000 shares of the network equipment provider’s stock worth $4,011,000 after buying an additional 22,500 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Up 1.3%
Shares of Cisco Systems stock opened at $77.08 on Monday. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $80.06. The firm has a market capitalization of $304.53 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $71.70 and its 200-day moving average is $68.74.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, January 2nd. Cisco Systems’s dividend payout ratio is 61.65%.
Analyst Upgrades and Downgrades
CSCO has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Cisco Systems from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. CICC Research increased their target price on shares of Cisco Systems from $78.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Erste Group Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. Finally, Melius Research increased their price objective on shares of Cisco Systems from $84.00 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.
View Our Latest Report on CSCO
Insider Transactions at Cisco Systems
In other news, insider Jeetendra I. Patel sold 163,896 shares of Cisco Systems stock in a transaction on Friday, November 14th. The stock was sold at an average price of $77.86, for a total transaction of $12,760,942.56. Following the transaction, the insider 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 17,526 shares of the 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 completion of the sale, the executive vice president directly owned 198,855 shares of the company’s stock, valued at approximately $13,512,197.25. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,024,627 shares of company stock worth $79,621,482. 0.01% of the stock is currently owned by 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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