Bryn Mawr Trust Advisors LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 410,253 shares of the network equipment provider’s stock after purchasing an additional 12,123 shares during the period. Cisco Systems accounts for approximately 1.4% of Bryn Mawr Trust Advisors LLC’s holdings, making the stock its 13th biggest position. Bryn Mawr Trust Advisors LLC’s holdings in Cisco Systems were worth $28,070,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1.4% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after acquiring an additional 142 shares during the last quarter. Yoder Wealth Management Inc. raised its stake in Cisco Systems by 3.8% in the third quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock worth $270,000 after buying an additional 143 shares in the last quarter. Mount Vernon Associates Inc. MD grew its stake in Cisco Systems by 0.4% in the second quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock valued at $2,871,000 after purchasing an additional 150 shares during the last quarter. Wynn Capital LLC grew its holdings in Cisco Systems by 0.3% in the third quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock worth $3,315,000 after purchasing an additional 150 shares during the last quarter. Finally, Old North State Trust LLC raised its stake in Cisco Systems by 0.6% in the second quarter. Old North State Trust LLC now owns 24,534 shares of the network equipment provider’s stock valued at $1,702,000 after buying an additional 151 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Cisco Systems Trading Down 0.1%
Shares of NASDAQ CSCO opened at $78.32 on Friday. The stock has a market capitalization of $309.45 billion, a PE ratio of 29.44, a PEG ratio of 2.97 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $80.82. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $76.75 and a 200-day simple moving average of $72.08.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, January 2nd. Cisco Systems’s dividend payout ratio is 61.65%.
Insider Buying and Selling at Cisco Systems
In other news, SVP Maria Victoria Wong sold 428 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $80.33, for a total value of $34,381.24. Following the completion of the transaction, the senior vice president owned 32,176 shares in the company, valued at approximately $2,584,698.08. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 116,734 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $77.30, for a total transaction of $9,023,538.20. Following the completion of the transaction, the chief executive officer owned 704,153 shares of the company’s stock, valued at $54,431,026.90. This represents a 14.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,044,865 shares of company stock worth $81,397,635. 0.01% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have commented on CSCO shares. President Capital lowered their price target on Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. Bank of America raised their target price on Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Morgan Stanley increased their price target on Cisco Systems from $82.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Rosenblatt Securities lifted their price target on Cisco Systems from $87.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Barclays increased their price target on Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $86.81.
View Our Latest Stock Report on CSCO
Cisco Systems Company Profile
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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