Measured Wealth Private Client Group LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 39.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,431 shares of the network equipment provider’s stock after selling 8,900 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Cisco Systems were worth $664,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its holdings in Cisco Systems by 0.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 6,155,166 shares of the network equipment provider’s stock valued at $266,703,000 after purchasing an additional 46,385 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $126,000. Foresters Investment Management Company Inc. increased its holdings in Cisco Systems by 0.7% in the 4th quarter. Foresters Investment Management Company Inc. now owns 1,439,475 shares of the network equipment provider’s stock valued at $62,372,000 after purchasing an additional 9,600 shares during the last quarter. Cohen & Steers Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $51,000. Finally, Stamos Capital Partners L.P. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $2,496,000. 73.31% of the stock is currently owned by institutional investors.
Shares of Cisco Systems stock traded up $1.00 during trading on Friday, hitting $47.15. 615,069 shares of the stock were exchanged, compared to its average volume of 19,983,844. The firm’s 50-day moving average price is $48.15 and its 200 day moving average price is $53.22. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month 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 stock has a market cap of $196.94 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.24 and a beta of 1.28.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 annualized dividend and a yield of 2.97%. Cisco Systems’s dividend payout ratio is currently 49.12%.
Several analysts recently weighed in on the stock. UBS Group set a $58.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley dropped their target price on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Robert W. Baird set a $54.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Friday, September 13th. Goldman Sachs Group cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and decreased their price target for the company from $56.00 to $48.00 in a research report on Thursday. Finally, ValuEngine cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $56.04.
In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the sale, the chief financial officer now directly owns 277,548 shares in the company, valued at approximately $12,967,042.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The disclosure for this sale can be found here. Insiders have sold a total of 193,130 shares of company stock worth $9,359,179 over the last quarter. 0.03% of the stock is owned by company insiders.
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 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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