Bellecapital International Ltd. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 34.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,343 shares of the network equipment provider’s stock after selling 12,803 shares during the quarter. Bellecapital International Ltd.’s holdings in Cisco Systems were worth $1,666,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc grew its stake in Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after purchasing an additional 308 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at $28,000. Lowe Wealth Advisors LLC increased its position in Cisco Systems by 96.2% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Financial Connections Group Inc. raised its position in Cisco Systems by 89.4% during the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Finally, Brown Shipley& Co Ltd acquired a new position in Cisco Systems during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
Cisco Systems Trading Up 0.2%
NASDAQ:CSCO opened at $78.16 on Friday. The stock has a market cap of $308.82 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.96 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 0.93. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $80.82. The business has a fifty day moving average of $75.51 and a 200-day moving average of $70.67.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend 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 61.65%.
Insiders Place Their Bets
In related news, EVP Thimaya K. Subaiya sold 1,745 shares of Cisco Systems stock in a transaction on Friday, December 12th. The stock was sold at an average price of $79.46, for a total transaction of $138,657.70. Following the completion of the sale, the executive vice president owned 176,319 shares of the company’s stock, valued at approximately $14,010,307.74. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 428 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $80.33, for a total transaction of $34,381.24. Following the completion of the sale, the senior vice president owned 32,176 shares of the company’s stock, valued at $2,584,698.08. This trade represents a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,044,865 shares of company stock valued at $81,397,635 over the last quarter. 0.01% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
CSCO has been the subject of a number of research analyst reports. Rosenblatt Securities increased their target price on shares of Cisco Systems from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. KeyCorp upped their price objective on shares of Cisco Systems from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Piper Sandler lifted their price objective on Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. BNP Paribas Exane increased their target price on Cisco Systems from $76.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Finally, HSBC raised their price objective on Cisco Systems from $69.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, November 14th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.70.
Cisco Systems 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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