Perennial Advisors LLC Grows Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)
Perennial Advisors LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,895 shares of the network equipment provider’s stock after purchasing an additional 2,551 shares during the quarter. Cisco Systems makes up approximately 1.6% of Perennial Advisors LLC’s holdings, making the stock its 28th biggest position. Perennial Advisors LLC’s holdings in Cisco Systems were worth $3,304,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arjuna Capital boosted its holdings in shares of Cisco Systems by 1.8% during the 2nd quarter. Arjuna Capital now owns 81,513 shares of the network equipment provider’s stock valued at $4,461,000 after buying an additional 1,435 shares in the last quarter. Keudell Morrison Wealth Management increased its position in Cisco Systems by 70.2% during the second quarter. Keudell Morrison Wealth Management now owns 38,279 shares of the network equipment provider’s stock worth $2,095,000 after buying an additional 15,784 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Cisco Systems during the second quarter worth $1,381,000. Worldquant Millennium Advisors LLC boosted its holdings in shares of Cisco Systems by 25.0% during the second quarter. Worldquant Millennium Advisors LLC now owns 19,835 shares of the network equipment provider’s stock worth $1,086,000 after purchasing an additional 3,967 shares during the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $269,000. 72.62% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CSCO traded up $0.06 during midday trading on Friday, reaching $49.07. 2,081,453 shares of the company’s stock were exchanged, compared to its average volume of 15,692,901. Cisco Systems, Inc. has a 52-week low of $43.40 and a 52-week high of $58.26. The stock has a market capitalization of $208.13 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70. The business’s fifty day moving average price is $47.10 and its two-hundred day moving average price is $48.88.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, January 2nd. Cisco Systems’s payout ratio is 49.12%.
CSCO has been the topic of several analyst reports. Royal Bank of Canada set a $56.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, November 13th. ValuEngine upgraded Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Citigroup cut Cisco Systems from a “buy” rating to a “neutral” rating and reduced their target price for the company from $56.00 to $52.00 in a report on Wednesday, January 8th. Edward Jones upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, Evercore ISI reiterated a “buy” rating on shares of Cisco Systems in a report on Sunday, December 15th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus target price of $54.78.
In other news, CAO Prat Bhatt sold 39,343 shares of Cisco Systems stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the sale, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Irving Tan sold 10,733 shares of Cisco Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $44.81, for a total value of $480,945.73. Following the sale, the executive vice president now directly owns 172,199 shares in the company, valued at $7,716,237.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 388,864 shares of company stock worth $17,474,321. Corporate insiders own 0.03% of the company’s stock.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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