Curio Wealth LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 113,116.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,793 shares of the network equipment provider’s stock after purchasing an additional 6,787 shares during the quarter. Curio Wealth LLC’s holdings in Cisco Systems were worth $471,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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. boosted its holdings 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 valued at $2,907,599,000 after buying an additional 4,437,450 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 valued at $2,898,722,000 after buying an additional 12,775,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 valued at $2,332,492,000 after buying an additional 1,326,354 shares in the last quarter. Finally, Amundi boosted its holdings 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 valued at $1,679,312,000 after buying an additional 2,898,391 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Stock Performance
Shares of CSCO stock opened at $70.63 on Friday. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $72.55. The company’s 50-day moving average is $68.30 and its 200 day moving average is $65.61. The company has a market capitalization of $279.21 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were paid a dividend of $0.41 per share. The ex-dividend date was Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.3%. Cisco Systems’s dividend payout ratio is currently 62.60%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CSCO. Hsbc Global Res cut shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Rosenblatt Securities restated a “buy” rating and set a $87.00 target price on shares of Cisco Systems in a report on Thursday, August 14th. HSBC restated a “hold” rating and set a $69.00 target price on shares of Cisco Systems in a report on Friday, August 15th. Evercore ISI boosted their target price on shares of Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a report on Thursday, August 14th. Finally, Bank of America boosted their target price on shares of Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 14th. One equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.72.
Read Our Latest Stock Report on Cisco Systems
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Oliver Tuszik sold 17,526 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the transaction, the executive vice president owned 198,855 shares in the company, valued at approximately $13,512,197.25. This represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 9,061 shares of the company’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 $603,462.60. Following the transaction, the insider owned 237,405 shares in the company, valued at $15,811,173. This represents a 3.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,965 shares of company stock worth $5,559,996. 0.01% of the stock is owned by company insiders.
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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