Cisco Systems, Inc. (NASDAQ:CSCO) Stake Increased by Hoylecohen LLC

Hoylecohen LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the second quarter, Holdings Channel reports. The institutional investor owned 44,813 shares of the network equipment provider’s stock after acquiring an additional 258 shares during the quarter. Hoylecohen LLC’s holdings in Cisco Systems were worth $2,090,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Hoey Investments Inc. acquired a new position in shares of Cisco Systems during the second quarter valued at $26,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems during the first quarter valued at $31,000. Emerald Advisers LLC acquired a new position in shares of Cisco Systems during the second quarter valued at $38,000. Bourgeon Capital Management LLC acquired a new position in shares of Cisco Systems during the first quarter valued at $32,000. Finally, Larson Financial Group LLC lifted its holdings in Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock worth $44,000 after purchasing an additional 356 shares during the period. Institutional investors and hedge funds own 71.36% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Nomura upped their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Nomura Instinet upped their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. UBS Group dropped their price target on shares of Cisco Systems from $54.00 to $51.00 and set a “buy” rating on the stock in a research 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 stock a “neutral” rating in a research report on Thursday, May 14th. Finally, TheStreet upgraded shares of Cisco Systems from a “c+” rating to a “b-” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $50.33.

Shares of NASDAQ CSCO opened at $47.10 on Friday. The stock has a market cap of $196.08 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.01 and a beta of 0.98. The business has a 50 day simple moving average of $46.07 and a 200 day simple moving average of $44.16. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $56.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59.

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

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. Cisco Systems’s payout ratio is 50.53%.

In related news, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction that occurred 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 owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.03% of the company’s stock.

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

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