Price T Rowe Associates Inc. MD raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the third quarter, Holdings Channel reports. The firm owned 69,860,968 shares of the network equipment provider’s stock after buying an additional 3,555,286 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Cisco Systems were worth $2,215,990,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Albion Financial Group UT raised its stake in Cisco Systems by 3.1% in the second quarter. Albion Financial Group UT now owns 140,402 shares of the network equipment provider’s stock worth $4,028,000 after buying an additional 4,244 shares during the period. MSI Financial Services Inc raised its stake in Cisco Systems by 2.6% in the second quarter. MSI Financial Services Inc now owns 239,596 shares of the network equipment provider’s stock worth $6,875,000 after buying an additional 6,179 shares during the period. RKL Wealth Management LLC raised its stake in Cisco Systems by 50.6% in the second quarter. RKL Wealth Management LLC now owns 33,503 shares of the network equipment provider’s stock worth $979,000 after buying an additional 11,262 shares during the period. Shell Asset Management Co. raised its stake in Cisco Systems by 36.6% in the second quarter. Shell Asset Management Co. now owns 1,049,985 shares of the network equipment provider’s stock worth $30,124,000 after buying an additional 281,328 shares during the period. Finally, United Bank VA raised its stake in Cisco Systems by 2.8% in the second quarter. United Bank VA now owns 121,590 shares of the network equipment provider’s stock worth $3,489,000 after buying an additional 3,283 shares during the period. Institutional investors own 75.24% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.97 on Tuesday. The company has a 50-day moving average of $30.62 and a 200 day moving average of $30.74. The firm has a market capitalization of $160.48 billion, a PE ratio of 15.30 and a beta of 1.36. Cisco Systems, Inc. has a 12-month low of $25.19 and a 12-month high of $32.00.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Wednesday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 49.52%.
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CSCO has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. set a $34.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Tuesday, January 24th. Jefferies Group LLC reissued an “in-line” rating and issued a $31.37 price objective (down from $35.00) on shares of Cisco Systems in a research report on Tuesday, November 15th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, October 18th. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a research report on Wednesday, November 2nd. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $32.00 price objective on shares of Cisco Systems in a research report on Thursday, December 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $33.41.
In other news, SVP Karen Walker sold 1,793 shares of Cisco Systems stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $30.41, for a total transaction of $54,525.13. Following the transaction, the senior vice president now owns 183,275 shares in the company, valued at approximately $5,573,392.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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