West Bancorporation Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,410 shares of the network equipment provider’s stock after selling 388 shares during the quarter. West Bancorporation Inc.’s holdings in Cisco Systems were worth $583,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 worth $24,002,095,000 after purchasing an additional 1,865,648 shares in the last quarter. Invesco Ltd. increased its position in shares of Cisco Systems by 10.4% during the 1st quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider’s stock worth $2,907,599,000 after purchasing an additional 4,437,450 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cisco Systems by 37.4% during 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 purchasing an additional 12,775,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cisco Systems by 3.6% during 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 purchasing an additional 1,326,354 shares in the last quarter. Finally, Amundi increased its position in shares of Cisco Systems by 11.0% during the 1st quarter. Amundi now owns 29,170,847 shares of the network equipment provider’s stock worth $1,679,312,000 after purchasing an additional 2,898,391 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Stock Down 2.9%
Shares of NASDAQ CSCO opened at $67.94 on Friday. The firm has a market capitalization of $268.58 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $72.55. The firm’s 50-day moving average is $68.24 and its 200-day moving average is $64.86.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.
Insider Activity
In other Cisco Systems news, SVP Maria Victoria Wong sold 428 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $68.25, for a total transaction of $29,211.00. Following the sale, the senior vice president directly owned 30,619 shares in the company, valued at approximately $2,089,746.75. This trade represents a 1.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $66.78, for a total transaction of $116,464.32. Following the completion of the sale, the executive vice president owned 158,009 shares in the company, valued at $10,551,841.02. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,965 shares of company stock worth $5,559,996. Corporate insiders own 0.01% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. KeyCorp assumed coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. Barclays increased their target price on shares of Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Bank of America raised their price objective on shares of Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, HSBC restated a “hold” rating and issued a $69.00 price objective on shares of Cisco Systems in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.89.
Get Our Latest Stock Analysis on CSCO
About Cisco Systems
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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