LRI Investments LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,524 shares of the network equipment provider’s stock after selling 760 shares during the quarter. LRI Investments LLC’s holdings in Cisco Systems were worth $1,077,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of CSCO. Postrock Partners LLC grew its stake in shares of Cisco Systems by 4.5% during the 2nd quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock worth $241,000 after acquiring an additional 150 shares in the last quarter. Mount Vernon Associates Inc. MD grew its stake in shares of Cisco Systems by 0.4% during the 2nd quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock worth $2,871,000 after acquiring an additional 150 shares in the last quarter. Pacifica Partners Inc. grew its stake in shares of Cisco Systems by 0.5% during the 2nd quarter. Pacifica Partners Inc. now owns 34,060 shares of the network equipment provider’s stock worth $2,338,000 after acquiring an additional 155 shares in the last quarter. Pacific Sage Partners LLC grew its stake in shares of Cisco Systems by 0.9% during the 2nd quarter. Pacific Sage Partners LLC now owns 16,746 shares of the network equipment provider’s stock worth $1,162,000 after acquiring an additional 156 shares in the last quarter. Finally, Childress Capital Advisors LLC grew its stake in shares of Cisco Systems by 0.8% during the 2nd quarter. Childress Capital Advisors LLC now owns 18,806 shares of the network equipment provider’s stock worth $1,305,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Down 2.9%
CSCO opened at $67.94 on Friday. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. The stock’s fifty day simple moving average is $68.24 and its 200 day simple moving average is $64.88. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The stock has a market cap of $268.58 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio is 62.60%.
Insiders Place Their Bets
In other Cisco Systems news, EVP Oliver Tuszik sold 17,526 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 198,855 shares of the company’s stock, valued at $13,512,197.25. This represents a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $68.08, for a total value of $185,041.44. Following the completion of the transaction, the executive vice president directly owned 157,184 shares in the company, valued at approximately $10,701,086.72. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,965 shares of company stock worth $5,559,996 over the last three months. 0.01% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on CSCO shares. CICC Research started coverage on Cisco Systems in a research note on Monday, July 14th. They set an “outperform” rating and a $78.00 price objective on the stock. Bank of America raised their target price on shares of Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price for the company. William Blair raised shares of Cisco Systems to a “hold” rating in a research note on Thursday, August 14th. Finally, HSBC reissued a “hold” rating and issued a $69.00 target price on shares of Cisco Systems in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.89.
View Our Latest Analysis on Cisco Systems
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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