Corient Private Wealth LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 39.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,167,277 shares of the network equipment provider’s stock after acquiring an additional 897,432 shares during the quarter. Corient Private Wealth LLC owned 0.08% of Cisco Systems worth $243,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of CSCO. MidAtlantic Capital Management Inc. bought a new stake in Cisco Systems in the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $25,000. Jessup Wealth Management Inc bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new position in shares of Cisco Systems in the fourth quarter worth $31,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth $31,000. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Trading Up 1.9%
Shares of CSCO opened at $119.54 on Friday. Cisco Systems, Inc. has a 1-year low of $65.72 and a 1-year high of $130.37. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $105.43 and its 200-day moving average price is $87.78. The firm has a market capitalization of $471.16 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.99 and a beta of 1.01.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.68 annualized dividend and a dividend yield of 1.4%. Cisco Systems’s dividend payout ratio is currently 54.55%.
Key Stories Impacting Cisco Systems
Here are the key news stories impacting Cisco Systems this week:
- Positive Sentiment: Cisco is being highlighted by Zacks and other market coverage as a beneficiary of the AI infrastructure buildout, with demand for networking gear and enterprise AI adoption supporting the bullish case for the stock. Why Cisco Systems (CSCO) Outpaced the Stock Market Today
- Positive Sentiment: Rhino Networks’ comments on Cisco’s unified networking strategy for SMBs reinforced the idea that Cisco’s Meraki and traditional networking portfolios are converging into a stronger, more compelling platform for customers modernizing their networks. Todd Carriker, CEO of Rhino Networks, Addresses Cisco’s Unified Networking Strategy for SMB Market
- Positive Sentiment: Equinix expanded partnerships with Cisco and NVIDIA to accelerate enterprise AI adoption, which may signal growing ecosystem demand for Cisco’s networking and data-center products. Equinix Strengthens AI Infrastructure With Cisco & NVIDIA Partnerships
- Positive Sentiment: Cisco was also included in bullish “blue-chip stocks to buy” coverage, adding to the constructive tone around the name and supporting investor interest. Dow Achieves a New Milestone: 4 Blue-Chip Stocks to Buy
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on CSCO shares. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $95.00 to $96.00 in a research report on Monday, May 11th. Piper Sandler boosted their price objective on shares of Cisco Systems from $86.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. UBS Group increased their target price on shares of Cisco Systems from $95.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Zacks Research cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.90.
View Our Latest Analysis on CSCO
Insider Buying and Selling
In related news, EVP Oliver Tuszik sold 2,761 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $114.61, for a total value of $316,438.21. Following the sale, the executive vice president directly owned 180,877 shares of the company’s stock, valued at $20,730,312.97. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeetendra I. Patel sold 7,169 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $117.28, for a total value of $840,780.32. Following the completion of the transaction, the insider owned 246,737 shares of the company’s stock, valued at approximately $28,937,315.36. This trade represents a 2.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,650 shares of company stock worth $5,668,823 over the last quarter. Company insiders own 0.01% of the company’s stock.
About Cisco Systems
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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