Regent Investment Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 91,809 shares of the network equipment provider’s stock after selling 4,385 shares during the period. Cisco Systems accounts for approximately 1.4% of Regent Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. Regent Investment Management LLC’s holdings in Cisco Systems were worth $4,282,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Hoey Investments Inc. bought a new position in Cisco Systems during the 2nd quarter worth $26,000. Lion Street Advisors LLC acquired a new stake in Cisco Systems during the 1st quarter worth about $31,000. Emerald Advisers LLC acquired a new stake in Cisco Systems during the 2nd quarter worth about $38,000. Bourgeon Capital Management LLC acquired a new stake in Cisco Systems during the 1st quarter worth about $32,000. Finally, Larson Financial Group LLC grew its holdings in Cisco Systems by 61.1% during the 2nd quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock worth $44,000 after acquiring an additional 356 shares during the period. 71.36% of the stock is owned by institutional investors and hedge funds.
NASDAQ:CSCO opened at $47.10 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $196.08 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The firm’s 50 day moving average is $46.07 and its 200 day moving average is $44.16. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $56.89.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.53%.
In related news, CAO Prat Bhatt sold 5,703 shares of Cisco Systems stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $44.87, for a total value of $255,893.61. Following the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.03% of the company’s stock.
CSCO has been the subject of a number of recent analyst reports. Raymond James increased their price target on Cisco Systems from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. UBS Group decreased their price target on Cisco Systems from $54.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $48.00 to $55.00 in a research note on Tuesday, June 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. Finally, Nomura Instinet raised their target price on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.33.
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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