Trust Co. of Virginia VA trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,964 shares of the network equipment provider’s stock after selling 1,109 shares during the period. Cisco Systems comprises 1.6% of Trust Co. of Virginia VA’s portfolio, making the stock its 20th largest position. Trust Co. of Virginia VA’s holdings in Cisco Systems were worth $11,052,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Kiley Juergens Wealth Management LLC raised its stake in shares of Cisco Systems by 2.2% during the second quarter. Kiley Juergens Wealth Management LLC now owns 21,950 shares of the network equipment provider’s stock valued at $1,023,000 after acquiring an additional 475 shares during the last quarter. Corbenic Partners LLC bought a new position in shares of Cisco Systems during the first quarter valued at about $1,809,000. Exchange Traded Concepts LLC raised its stake in shares of Cisco Systems by 30.1% during the first quarter. Exchange Traded Concepts LLC now owns 13,082 shares of the network equipment provider’s stock valued at $514,000 after acquiring an additional 3,023 shares during the last quarter. Balentine LLC purchased a new position in shares of Cisco Systems during the first quarter valued at about $131,000. Finally, Alpha Cubed Investments LLC increased its position in shares of Cisco Systems by 5.1% during the second quarter. Alpha Cubed Investments LLC now owns 464,951 shares of the network equipment provider’s stock valued at $21,685,000 after buying an additional 22,531 shares during the period. 71.36% of the stock is owned by hedge funds and other institutional investors.
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. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89. The company has a market capitalization of $196.08 billion, a PE ratio of 15.69, a PEG ratio of 3.01 and a beta of 0.98. The firm’s 50 day simple moving average is $46.07 and its two-hundred day simple moving average is $44.16.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.53%.
Several equities analysts recently issued reports on the stock. 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 research report on Thursday, May 14th. Credit Suisse Group restated a “hold” rating and issued a $41.00 price objective on shares of Cisco Systems in a report on Monday, July 20th. 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. TheStreet upgraded shares of Cisco Systems from a “c+” rating to a “b-” rating in a report on Thursday, June 4th. Finally, Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 price objective on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and an average price target of $50.33.
In other news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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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