Adams Diversified Equity Fund Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 11.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,800 shares of the network equipment provider’s stock after selling 29,100 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Cisco Systems were worth $12,390,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter worth $25,000. Quarry LP lifted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the period. Retirement Group LLC raised its position in shares of 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 acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $36,000. 73.33% of the stock is owned by institutional investors.
Cisco Systems Stock Performance
Shares of CSCO opened at $55.68 on Wednesday. The firm has a market capitalization of $222.20 billion, a P/E ratio of 21.92, a PEG ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06. The business has a fifty day moving average of $52.34 and a 200 day moving average of $48.95.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $56.74.
Read Our Latest Analysis on CSCO
Insider Transactions at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 in the last three months. Corporate insiders own 0.01% of the company’s stock.
Cisco Systems Profile
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.
Read More
- Five stocks we like better than Cisco Systems
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Double-Digit Gains Ahead? Top 2 Stocks Positioned to Outperform
- How to Use Stock Screeners to Find Stocks
- Analysts Believe Cassava Sciences Now Has 300% Upside From Here
- What is MarketRankā¢? How to Use it
- These Are The Top Health Stocks to Own for Buy-and-Hold Investing
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.