Stock Yards Bank & Trust Co. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,326 shares of the network equipment provider’s stock after purchasing an additional 718 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Cisco Systems were worth $3,327,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. CapWealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1.0% in the fourth quarter. CapWealth Advisors LLC now owns 480,138 shares of the network equipment provider’s stock valued at $23,027,000 after purchasing an additional 4,837 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cisco Systems by 40.8% in the fourth quarter. Franklin Resources Inc. now owns 17,869,145 shares of the network equipment provider’s stock valued at $857,003,000 after purchasing an additional 5,176,828 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of Cisco Systems in the fourth quarter worth $462,000. Vigilare Wealth Management acquired a new position in shares of Cisco Systems in the fourth quarter worth $317,000. Finally, Van ECK Associates Corp increased its stake in shares of Cisco Systems by 211.7% in the fourth quarter. Van ECK Associates Corp now owns 315,310 shares of the network equipment provider’s stock worth $15,122,000 after acquiring an additional 214,160 shares during the last quarter. Institutional investors own 71.36% of the company’s stock.
Shares of NASDAQ:CSCO opened at $46.26 on Wednesday. The company has a market cap of $197.01 billion, a P/E ratio of 18.36, a P/E/G ratio of 3.02 and a beta of 0.98. The stock’s 50-day moving average is $46.17 and its 200-day moving average is $44.25. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $58.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59.
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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, July 2nd. Cisco Systems’s payout ratio is presently 50.53%.
In related news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction dated Monday, June 15th. The shares were 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 owns 85,613 shares in the company, valued at $3,841,455.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.03% of the stock is currently owned by company insiders.
CSCO has been the topic of a number of research reports. Nomura upped their price target on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. MKM Partners upped their price target on shares of Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Oppenheimer initiated coverage on shares of Cisco Systems in a research note on Thursday, May 28th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, TheStreet raised shares of Cisco Systems from a “c+” rating to a “b-” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $50.70.
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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