Bridgeworth LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,540 shares of the network equipment provider’s stock after acquiring an additional 1,222 shares during the quarter. Bridgeworth LLC’s holdings in Cisco Systems were worth $373,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC increased its position in shares of Cisco Systems by 13.6% in the third quarter. SeaCrest Wealth Management LLC now owns 72,120 shares of the network equipment provider’s stock valued at $3,563,000 after buying an additional 8,608 shares in the last quarter. Sterling Investment Advisors Ltd. increased its position in shares of Cisco Systems by 32.6% during the third quarter. Sterling Investment Advisors Ltd. now owns 12,229 shares of the network equipment provider’s stock worth $604,000 after purchasing an additional 3,004 shares in the last quarter. City Holding Co. increased its position in shares of Cisco Systems by 3.6% during the third quarter. City Holding Co. now owns 95,773 shares of the network equipment provider’s stock worth $4,731,000 after purchasing an additional 3,289 shares in the last quarter. Exane Derivatives increased its position in shares of Cisco Systems by 11.7% during the third quarter. Exane Derivatives now owns 72,303 shares of the network equipment provider’s stock worth $3,531,000 after purchasing an additional 7,591 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY increased its position in shares of Cisco Systems by 2.4% during the third quarter. Bristol John W & Co. Inc. NY now owns 1,537,511 shares of the network equipment provider’s stock worth $75,969,000 after purchasing an additional 35,813 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.
CSCO traded up $0.23 during mid-day trading on Wednesday, hitting $46.59. 162,478 shares of the stock were exchanged, compared to its average volume of 20,780,738. The firm’s fifty day moving average is $48.07 and its two-hundred day moving average is $53.07. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The company has a market cap of $197.66 billion, a PE ratio of 16.35, a PEG 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. Shareholders of record on Friday, October 4th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s dividend payout ratio is currently 49.12%.
Several analysts recently commented on CSCO shares. Robert W. Baird set a $54.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, September 13th. Raymond James restated an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. KeyCorp dropped their target price on Cisco Systems from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Goldman Sachs Group cut Cisco Systems from a “buy” rating to a “neutral” rating and dropped their target price for the company from $56.00 to $48.00 in a report on Thursday, October 10th. Finally, Barclays initiated coverage on Cisco Systems in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.04.
In other Cisco Systems news, EVP Mark D. Chandler sold 546 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Goeckeler sold 70,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $49.22, for a total value of $3,445,400.00. Following the completion of the sale, the executive vice president now directly owns 429,398 shares in the company, valued at approximately $21,134,969.56. The disclosure for this sale can be found here. Insiders sold a total of 193,130 shares of company stock worth $9,359,179 in the last ninety days. 0.03% of the stock is owned by corporate insiders.
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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