Retirement Planning Group LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 67.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,684 shares of the network equipment provider’s stock after purchasing an additional 8,362 shares during the period. Retirement Planning Group LLC’s holdings in Cisco Systems were worth $1,415,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc lifted its holdings in Cisco Systems by 531.0% in the second quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock valued at $25,000 after acquiring an additional 308 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in Cisco Systems in the third quarter valued at $25,000. Financial Connections Group Inc. lifted its stake in shares of Cisco Systems by 89.4% in the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth $28,000. Finally, Lowe Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 96.2% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Down 1.4%
Cisco Systems stock opened at $74.41 on Thursday. The firm has a market capitalization of $294.00 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.85 and a beta of 0.87. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $80.82. The stock’s fifty day simple moving average is $76.50 and its 200-day simple moving average is $71.50.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, January 2nd. Cisco Systems’s payout ratio is 61.65%.
Insider Buying and Selling
In other news, CEO Charles Robbins sold 116,734 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $77.30, for a total value of $9,023,538.20. Following the sale, the chief executive officer directly owned 704,153 shares in the company, valued at approximately $54,431,026.90. This trade represents a 14.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael D. Capellas sold 10,850 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $77.13, for a total transaction of $836,860.50. Following the transaction, the director owned 146,368 shares of the company’s stock, valued at approximately $11,289,363.84. The trade was a 6.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,044,865 shares of company stock worth $81,397,635. Corporate insiders own 0.01% of the company’s stock.
Analyst Upgrades and Downgrades
CSCO has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. KeyCorp upped their price objective on shares of Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Erste Group Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, Piper Sandler upped their price target on Cisco Systems from $70.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.23.
Read Our Latest Analysis on CSCO
Cisco Systems Company Profile
Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.
In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.
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