Institute for Wealth Management LLC. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,946 shares of the network equipment provider’s stock after buying an additional 8,908 shares during the period. Institute for Wealth Management LLC.’s holdings in Cisco Systems were worth $1,967,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CSCO. Evolution Wealth Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter valued at about $33,000. Lowe Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $38,000. Personal Wealth Partners acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $44,000. Ashburton Jersey Ltd acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $49,000. Finally, Cohen & Steers Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $51,000. 73.73% of the stock is owned by institutional investors and hedge funds.
CSCO stock opened at $47.91 on Friday. The company has a 50 day simple moving average of $54.34 and a 200 day simple moving average of $53.77. The stock has a market cap of $205.18 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.23 and a beta of 1.18. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is 49.12%.
In other Cisco Systems news, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven M. West sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the completion of the transaction, the director now owns 5,263 shares of the company’s stock, valued at $295,833.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,925 shares of company stock valued at $4,976,706. 0.03% of the stock is owned by corporate insiders.
Several brokerages have recently commented on CSCO. Tigress Financial restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, June 27th. Raymond James restated an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Citigroup dropped their target price on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Barclays began coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 target price for the company. Finally, UBS Group set a $58.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $56.59.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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