2 weeks Ago By Defense World Staff
NewEdge Advisors LLC raised its stake in shares of Cisco Systems, Inc. ( NASDAQ:CSCO – Free Report ) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 450,984 shares of the network equipment provider’s stock after purchasing an additional 21,295 shares during the quarter. NewEdge Advisors LLC’s holdings in Cisco Systems were worth $21,426,000 as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors also recently added to or reduced their stakes in the stock.
Summit Securities Group LLC bought a new position in shares of Cisco Systems in the second quarter valued at approximately $25,000. Retirement Group LLC raised its position in Cisco Systems by 56.8% in the 1st quarter.
Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems in the 2nd quarter worth approximately $36,000. Redmont Wealth Advisors LLC bought a new position in Cisco Systems in the 1st quarter worth approximately $41,000.
Finally, Frank Rimerman Advisors LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $44,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes CSCO has been the subject of several research analyst reports. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th.
Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th.
Barclays cut their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th.
Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th.
One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.00.
Insiders Place Their Bets In other news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.
42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.
45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.
35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th.
The stock was sold at an average price of $49.09, for a total transaction of $31,319.42.
Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The disclosure for this sale can be found here .
Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. Insiders own 0.02% of the company’s stock.
Cisco Systems Trading Up 0.3 % Shares of NASDAQ:CSCO opened at $53.02 on Monday.
Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.
58. The company has a market capitalization of $213.61 billion, a P/E ratio of 17.
85, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83.
The company has a 50-day simple moving average of $49.01 and a 200 day simple moving average of $48.14.
The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.
91. Cisco Systems ( NASDAQ:CSCO – Get Free Report ) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.
87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02.
The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion.
Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%.
The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $1.
01 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.
9 earnings per share for the current year. Cisco Systems Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.
40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.
60 annualized dividend and a yield of 3.02%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.
87%. Cisco Systems Profile ( Free Report ) 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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