Tradewinds LLC. purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,760 shares of the network equipment provider’s stock, valued at approximately $1,078,000.
Other large investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of 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 valued at $542,000 after acquiring an additional 2,474 shares during the period. Sivia Capital Partners LLC raised its position in Cisco Systems by 7.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock valued at $706,000 after purchasing an additional 712 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Cisco Systems by 1.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 168,413 shares of the network equipment provider’s stock worth $11,684,000 after purchasing an additional 2,240 shares during the period. Finally, My Legacy Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter worth $208,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ:CSCO opened at $75.19 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.46. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $80.82. The firm’s fifty day simple moving average is $76.66 and its 200-day simple moving average is $71.61. The stock has a market cap of $297.08 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.87.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, January 2nd. Cisco Systems’s payout ratio is presently 61.65%.
Analysts Set New Price Targets
CSCO has been the topic of a number of recent research reports. Citic Securities lifted their price objective on shares of Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. 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 report on Thursday, November 13th. HSBC increased their price objective on Cisco Systems from $69.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, November 14th. BNP Paribas Exane upped their price target on Cisco Systems from $76.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on Cisco Systems from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.23.
Check Out Our Latest Report on CSCO
Insider Buying and Selling
In other news, Director Kristina M. Johnson sold 13,481 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the completion of the transaction, the director owned 61,630 shares in the company, valued at $4,753,521.90. This trade represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael D. Capellas sold 10,850 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $77.13, for a total transaction of $836,860.50. Following the completion of the sale, the director owned 146,368 shares in the company, valued at $11,289,363.84. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,044,865 shares of company stock valued at $81,397,635 in the last three months. 0.01% of the stock is owned by insiders.
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.
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