D Orazio & Associates Inc. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,963 shares of the network equipment provider’s stock after selling 1,028 shares during the period. D Orazio & Associates Inc.’s holdings in Cisco Systems were worth $691,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Kingstone Capital Partners Texas LLC acquired a new stake in Cisco Systems during the 2nd quarter worth $904,542,000. Goldman Sachs Group Inc. increased its holdings in shares of Cisco Systems by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock worth $2,898,722,000 after acquiring an additional 12,775,066 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Cisco Systems during the first quarter worth about $750,495,000. Pacer Advisors Inc. lifted its holdings in shares of Cisco Systems by 1,144.2% during the 1st quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider’s stock valued at $501,140,000 after purchasing an additional 7,468,212 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Cisco Systems by 255.9% in the 1st quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider’s stock valued at $482,509,000 after purchasing an additional 5,622,672 shares during the period. 73.33% of the stock is owned by institutional investors.
Cisco Systems Price Performance
Shares of NASDAQ CSCO opened at $73.96 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. The business has a 50-day moving average of $69.46 and a 200-day moving average of $67.20. The stock has a market capitalization of $291.46 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 3.00 and a beta of 0.95. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $74.84.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.2%. Cisco Systems’s dividend payout ratio (DPR) is currently 62.60%.
Analysts Set New Price Targets
Several analysts have commented on the stock. William Blair upgraded shares of Cisco Systems to a “hold” rating in a report on Thursday, August 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Cisco Systems in a research report on Thursday, October 30th. Erste Group Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday. Hsbc Global Res cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, HSBC reissued a “hold” rating and issued a $69.00 price target on shares of Cisco Systems in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $75.50.
Check Out Our Latest Stock Analysis on CSCO
Insider Buying and Selling at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 9,783 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $66.60, for a total transaction of $651,547.80. Following the transaction, the executive vice president directly owned 161,662 shares in the company, valued at $10,766,689.20. The trade was a 5.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 30,557 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were 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 directly owned 639,000 shares in the company, valued at approximately $42,576,570. The trade was a 4.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,965 shares of company stock valued at $5,559,996 in the last 90 days. Company insiders own 0.01% of the company’s stock.
Cisco Systems 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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