Lingohr Asset Management GmbH purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,500 shares of the network equipment provider’s stock, valued at approximately $646,000.
Other hedge funds have also added to or reduced their stakes in the company. Bare Financial Services Inc boosted its stake in Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock valued at $25,000 after purchasing an additional 308 shares during the last quarter. Marquette Asset Management LLC bought a new position in Cisco Systems in the 3rd quarter worth about $25,000. Financial Connections Group Inc. grew its position in 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 buying an additional 193 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Cisco Systems during the second quarter valued at about $28,000. Finally, Lowe Wealth Advisors LLC boosted its stake in shares of Cisco Systems by 96.2% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Trading Down 0.1%
Shares of NASDAQ:CSCO opened at $78.32 on Friday. The firm has a market capitalization of $309.45 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.97 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.83. The business’s 50-day moving average is $76.75 and its 200 day moving average is $72.08. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $80.82.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were paid a dividend of $0.41 per share. 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 payout ratio is 61.65%.
Analysts Set New Price Targets
CSCO has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Wall Street Zen downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Evercore ISI raised Cisco Systems from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 26th. Melius Research upped their target price on shares of Cisco Systems from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, President Capital reduced their price objective on Cisco Systems from $90.00 to $88.00 in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $86.81.
Get Our Latest Stock Analysis on Cisco Systems
Insider Transactions at Cisco Systems
In other news, Director Michael D. Capellas sold 10,850 shares of Cisco Systems stock in a transaction on Friday, December 19th. The stock was sold at an average price of $77.13, for a total transaction of $836,860.50. Following the transaction, the director owned 146,368 shares in the company, valued at $11,289,363.84. The trade was a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 428 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $80.33, for a total value of $34,381.24. Following the sale, the senior vice president directly owned 32,176 shares of the company’s stock, valued at approximately $2,584,698.08. This trade represents a 1.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,044,865 shares of company stock valued at $81,397,635. 0.01% of the stock is currently owned by company insiders.
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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