Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Increased by Secure Asset Management LLC

Secure Asset Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 56.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,233 shares of the network equipment provider’s stock after buying an additional 5,851 shares during the quarter. Secure Asset Management LLC’s holdings in Cisco Systems were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC raised its position in shares of Cisco Systems by 2.2% during the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 21,950 shares of the network equipment provider’s stock worth $1,023,000 after buying an additional 475 shares in the last quarter. Altavista Wealth Management Inc. raised its position in shares of Cisco Systems by 1.1% during the 4th quarter. Altavista Wealth Management Inc. now owns 133,024 shares of the network equipment provider’s stock worth $6,380,000 after buying an additional 1,425 shares in the last quarter. Corbenic Partners LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth approximately $1,809,000. Exchange Traded Concepts LLC raised its holdings in shares of Cisco Systems by 30.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 13,082 shares of the network equipment provider’s stock worth $514,000 after purchasing an additional 3,023 shares in the last quarter. Finally, Balentine LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth approximately $131,000. Institutional investors own 71.36% of the company’s stock.

CSCO has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of Cisco Systems in a report on Thursday, May 28th. They issued a “buy” rating and a $46.00 target price on the stock. Nomura boosted their price target on shares of Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. MKM Partners boosted their price target on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Piper Sandler boosted their price target on shares of Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Co boosted their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.70.

In related news, CAO Prat Bhatt sold 5,703 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the completion of the transaction, the chief accounting officer now directly owns 85,613 shares in the company, valued at approximately $3,841,455.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

CSCO stock opened at $46.26 on Wednesday. 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 firm has a 50 day moving average of $46.17 and a two-hundred day moving average of $44.25. The company has a market capitalization of $197.01 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 3.02 and a beta of 0.98. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period in the prior year, the firm earned $0.78 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, July 2nd. Cisco Systems’s payout ratio is currently 50.53%.

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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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