Signaturefd LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,430 shares of the network equipment provider’s stock after selling 3,558 shares during the period. Signaturefd LLC’s holdings in Cisco Systems were worth $7,453,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Vanguard Group Inc. raised its holdings in shares of Cisco Systems by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider’s stock valued at $24,002,095,000 after buying an additional 1,865,648 shares in the last quarter. Invesco Ltd. grew its position in shares of Cisco Systems by 10.4% in the 1st quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider’s stock worth $2,907,599,000 after buying an additional 4,437,450 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cisco Systems by 37.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock worth $2,898,722,000 after buying an additional 12,775,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cisco Systems by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,797,629 shares of the network equipment provider’s stock worth $2,332,492,000 after buying an additional 1,326,354 shares during the last quarter. Finally, Amundi grew its position in shares of Cisco Systems by 11.0% in the 1st quarter. Amundi now owns 29,170,847 shares of the network equipment provider’s stock worth $1,679,312,000 after buying an additional 2,898,391 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Down 0.9%
CSCO stock opened at $67.22 on Friday. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $72.55. The business has a fifty day moving average price of $68.12 and a 200-day moving average price of $64.30. 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 stock has a market capitalization of $265.73 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.85 and a beta of 0.99.
Cisco Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a dividend of $0.41 per share. 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%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on CSCO. Wolfe Research began coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. William Blair upgraded Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. UBS Group lifted their price target on Cisco Systems from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Finally, KeyCorp began coverage on Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $74.53.
Get Our Latest Stock Analysis on CSCO
Insider Activity at Cisco Systems
In related news, SVP Maria Victoria Wong sold 428 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $68.25, for a total transaction of $29,211.00. Following the completion of the sale, the senior vice president owned 30,619 shares in the company, valued at approximately $2,089,746.75. This represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 30,557 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $66.63, for a total value of $2,036,012.91. Following the sale, the chief executive officer owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,965 shares of company stock valued at $5,559,996 in the last 90 days. 0.01% of the stock is owned by company insiders.
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.
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