Security Financial Services INC. bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,312 shares of the network equipment provider’s stock, valued at approximately $230,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Cisco Systems by 0.5% in 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. Geode Capital Management LLC boosted its holdings in shares of Cisco Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock worth $6,864,058,000 after acquiring an additional 1,157,704 shares during the period. Invesco Ltd. boosted its holdings in shares of Cisco Systems by 10.4% in the first quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider’s stock worth $2,907,599,000 after acquiring an additional 4,437,450 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Cisco Systems by 37.4% in the first 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 purchasing an additional 12,775,066 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 purchasing an additional 1,326,354 shares during the period. Institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ CSCO opened at $78.00 on Friday. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $79.50. The company has a fifty day moving average of $69.87 and a 200-day moving average of $67.49. The company has a market capitalization of $307.38 billion, a P/E ratio of 29.77, a P/E/G ratio of 3.00 and a beta of 0.95. 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 61.65%.
Wall Street Analyst Weigh In
Several research analysts have commented on CSCO shares. Barclays raised their target price on Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday. William Blair upgraded shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research note on Thursday, October 30th. Hsbc Global Res cut shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, CICC Research raised their price target on shares of Cisco Systems from $78.00 to $84.00 and gave the company an “outperform” rating in a report on Friday. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.
Read Our Latest Stock Analysis on CSCO
Insider Transactions at Cisco Systems
In other news, SVP Maria Victoria Wong sold 428 shares of the business’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 value of $29,211.00. Following the completion of the sale, the senior vice president directly owned 30,619 shares in the company, valued at approximately $2,089,746.75. The trade was a 1.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction of $185,041.44. Following the completion of the sale, the executive vice president directly owned 157,184 shares of the company’s stock, valued at $10,701,086.72. This trade represents a 1.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 33,089 shares of company stock worth $2,236,383. 0.01% of the stock is owned by corporate 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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