Cascade Investment Advisors Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 28.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,965 shares of the network equipment provider’s stock after selling 10,305 shares during the quarter. Cisco Systems comprises approximately 1.1% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 25th biggest position. Cascade Investment Advisors Inc.’s holdings in Cisco Systems were worth $1,211,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $2,297,257,000. Wellington Management Group LLP boosted its stake in shares of Cisco Systems by 38.3% in the first quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock valued at $3,718,681,000 after buying an additional 26,179,953 shares during the period. Public Investment Fund bought a new stake in shares of Cisco Systems in the first quarter valued at approximately $490,881,000. APG Asset Management N.V. boosted its stake in shares of Cisco Systems by 225.0% in the first quarter. APG Asset Management N.V. now owns 11,069,036 shares of the network equipment provider’s stock valued at $532,232,000 after buying an additional 7,663,550 shares during the period. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Cisco Systems in the first quarter valued at approximately $64,944,000. 71.36% of the stock is currently owned by institutional investors.
NASDAQ CSCO opened at $46.26 on Wednesday. The company has a market capitalization of $197.01 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 3.02 and a beta of 0.98. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $58.26. The stock has a fifty day simple moving average of $46.17 and a 200 day simple moving average of $44.25. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be issued a $0.36 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 3.11%. Cisco Systems’s payout ratio is 50.53%.
In related news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the completion of the sale, the chief accounting officer now directly owns 85,613 shares in the company, valued at $3,841,455.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.
Several equities research analysts recently issued reports on CSCO shares. Wells Fargo & Co boosted their price target on Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Nomura Securities cut their target price on Cisco Systems from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Argus restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, March 26th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. Finally, Piper Sandler upped their target price on Cisco Systems from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $50.70.
About Cisco Systems
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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