Alpha Cubed Investments LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,569 shares of the network equipment provider’s stock after selling 3,297 shares during the period. Cisco Systems makes up 1.0% of Alpha Cubed Investments LLC’s portfolio, making the stock its 25th biggest position. Alpha Cubed Investments LLC’s holdings in Cisco Systems were worth $27,236,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Financial Connections Group Inc. boosted its holdings in shares of Cisco Systems by 89.4% during the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 193 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $28,000. Pandora Wealth Inc. acquired a new stake in shares of Cisco Systems during the 1st quarter valued at $31,000. Nova Wealth Management Inc. purchased a new position in shares of Cisco Systems during the 1st quarter valued at $31,000. Finally, Brown Shipley& Co Ltd acquired a new position in shares of Cisco Systems in the second quarter worth $32,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Trading Up 0.0%
Shares of CSCO stock opened at $71.07 on Monday. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $74.84. The company has a market cap of $280.07 billion, a PE ratio of 27.13, 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 business’s 50 day moving average is $69.19 and its two-hundred day moving average is $66.94.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a $0.41 dividend. The ex-dividend date was Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. Cisco Systems’s payout ratio is presently 62.60%.
Insider Buying and Selling at Cisco Systems
In related news, CEO Charles Robbins sold 30,557 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the completion of the sale, the chief executive officer owned 639,000 shares in the company, valued at $42,576,570. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Oliver Tuszik sold 17,526 shares of Cisco Systems stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 198,855 shares in the company, 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. Insiders have sold 82,965 shares of company stock worth $5,559,996 in the last ninety days. 0.01% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Hsbc Global Res cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. UBS Group upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $74.00 to $88.00 in a report on Monday, November 3rd. Barclays increased their price objective on Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Finally, William Blair raised shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $75.50.
Check Out Our Latest Research Report on Cisco Systems
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.
Featured Stories
- Five stocks we like better than Cisco Systems
- What is a Special Dividend?
- 3 Big Earnings Misses: Is It Time to Buy the Dip?
- Comparing and Trading High PE Ratio Stocks
- Is Robinhood’s 11% Post-Earnings Fall a Buy-the-Dip Opportunity?
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- AI Demand Is Coming—Is Microchip Technology Ready?
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.
