American Financial & Tax Strategies Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 149.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,980 shares of the network equipment provider’s stock after buying an additional 12,586 shares during the quarter. American Financial & Tax Strategies Inc.’s holdings in Cisco Systems were worth $1,435,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Postrock Partners LLC lifted its position in shares of Cisco Systems by 4.5% during the second quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock worth $241,000 after purchasing an additional 150 shares in the last quarter. Mount Vernon Associates Inc. MD increased its stake in Cisco Systems by 0.4% during the 2nd quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock worth $2,871,000 after buying an additional 150 shares during the period. Wynn Capital LLC lifted its holdings in Cisco Systems by 0.3% in the 3rd quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock worth $3,315,000 after buying an additional 150 shares in the last quarter. Old North State Trust LLC boosted its position in Cisco Systems by 0.6% in the 2nd quarter. Old North State Trust LLC now owns 24,534 shares of the network equipment provider’s stock valued at $1,702,000 after buying an additional 151 shares during the last quarter. Finally, Lion Street Advisors LLC grew its stake in shares of Cisco Systems by 0.7% during the second quarter. Lion Street Advisors LLC now owns 20,694 shares of the network equipment provider’s stock valued at $1,436,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Stock Down 0.5%
Shares of NASDAQ:CSCO opened at $77.79 on Tuesday. The company’s fifty day moving average is $75.65 and its two-hundred day moving average is $70.80. 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 stock has a market capitalization of $307.36 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.96 and a beta of 0.87.
Cisco Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given 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 is Friday, January 2nd. Cisco Systems’s dividend payout ratio is presently 61.65%.
Wall Street Analysts Forecast Growth
CSCO has been the topic of several recent analyst reports. Citigroup boosted their price target on Cisco Systems from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Barclays lifted their price objective on Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, November 13th. Morgan Stanley upped their target price on Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. BNP Paribas Exane raised their price target on shares of Cisco Systems from $76.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Finally, KeyCorp lifted their price target on shares of Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.70.
Read Our Latest Report on CSCO
Insiders Place Their Bets
In related news, SVP Maria Victoria Wong sold 428 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $80.33, for a total transaction of $34,381.24. Following the completion of the transaction, the senior vice president owned 32,176 shares in the company, valued at $2,584,698.08. The trade was a 1.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Capellas sold 10,850 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $77.13, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,044,865 shares of company stock worth $81,397,635. 0.01% of the stock is currently owned by insiders.
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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