Texas Capital Bancshares Inc. TX acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,648 shares of the network equipment provider’s stock, valued at approximately $254,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Truewealth LLC lifted its position in Cisco Systems by 6.7% in the fourth quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock valued at $614,000 after acquiring an additional 890 shares during the last quarter. Butensky & Cohen Financial Security Inc. lifted its position in Cisco Systems by 1.8% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 47,771 shares of the network equipment provider’s stock valued at $2,615,000 after acquiring an additional 859 shares during the last quarter. Eastern Bank lifted its position in Cisco Systems by 0.3% in the fourth quarter. Eastern Bank now owns 112,876 shares of the network equipment provider’s stock valued at $4,892,000 after acquiring an additional 354 shares during the last quarter. IHT Wealth Management LLC increased its stake in Cisco Systems by 12.7% in the fourth quarter. IHT Wealth Management LLC now owns 28,846 shares of the network equipment provider’s stock valued at $1,250,000 after purchasing an additional 3,240 shares during the period. Finally, Sanders Morris Harris LLC acquired a new position in Cisco Systems in the second quarter valued at $1,445,000. 74.41% of the stock is owned by institutional investors and hedge funds.
Shares of Cisco Systems stock traded down $2.14 on Friday, reaching $53.25. 29,008,206 shares of the stock were exchanged, compared to its average volume of 13,164,245. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26. 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 stock’s fifty day simple moving average is $56.48. The firm has a market capitalization of $237.15 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.83 and a beta of 1.18.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. Cisco Systems’s dividend payout ratio (DPR) is 59.83%.
In other news, Director Wesley G. Bush purchased 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $55.74 per share, for a total transaction of $557,400.00. Following the completion of the purchase, the director now directly owns 3,017 shares in the company, valued at approximately $168,167.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark D. Chandler sold 3,750 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $55.79, for a total transaction of $209,212.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,129 shares of company stock worth $5,159,754. Company insiders own 0.03% of the company’s stock.
A number of research analysts have commented on CSCO shares. Nomura lifted their price objective on shares of Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday. William Blair lowered shares of Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price objective on the stock. in a research note on Wednesday, June 12th. Robert W. Baird restated a “buy” rating and issued a $57.00 price objective on shares of Cisco Systems in a research note on Wednesday, July 10th. Credit Suisse Group restated a “neutral” rating and issued a $52.00 price objective (up from $47.00) on shares of Cisco Systems in a research note on Thursday, May 16th. Finally, BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.42.
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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