West Branch Capital LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,401 shares of the network equipment provider’s stock after selling 1,541 shares during the period. Cisco Systems accounts for approximately 2.0% of West Branch Capital LLC’s portfolio, making the stock its 15th largest position. West Branch Capital LLC’s holdings in Cisco Systems were worth $1,924,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horan Securities Inc. increased its stake in shares of Cisco Systems by 663.0% during the 4th quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after purchasing an additional 663 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $49,000. Highwater Wealth Management LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $51,000. Acropolis Investment Management LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $101,000. Finally, Hanseatic Management Services Inc. grew its stake in Cisco Systems by 74.6% in the 4th quarter. Hanseatic Management Services Inc. now owns 2,654 shares of the network equipment provider’s stock worth $115,000 after acquiring an additional 1,134 shares during the period. Institutional investors own 74.49% of the company’s stock.
Shares of NASDAQ:CSCO traded down $1.00 during trading on Friday, reaching $54.73. 37,448,749 shares of the company’s stock traded hands, compared to its average volume of 21,792,369. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.64. The company’s 50 day moving average is $54.94. The stock has a market cap of $234.28 billion, a PE ratio of 23.39, a P/E/G ratio of 2.89 and a beta of 1.21. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.15.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is currently 59.83%.
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday, May 16th. Jefferies Financial Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 16th. They noted that the move was a valuation call. BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. MKM Partners lifted their target price on shares of Cisco Systems to $56.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Finally, Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.13.
In other news, Director Steven M. West sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the director now owns 5,263 shares in the company, valued at $295,833.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the transaction, the chief financial officer now owns 349,122 shares in the company, valued at approximately $18,698,974.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,129 shares of company stock valued at $5,159,754. Company insiders own 0.03% of the company’s stock.
Cisco Systems 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.
Further Reading: Are sell-side analysts objective?
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