Beech Hill Advisors Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,381 shares of the network equipment provider’s stock after buying an additional 12,260 shares during the period. Cisco Systems comprises approximately 2.5% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 14th biggest position. Beech Hill Advisors Inc.’s holdings in Cisco Systems were worth $5,096,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Hoey Investments Inc. bought a new stake in Cisco Systems during the 2nd quarter worth approximately $26,000. FNY Investment Advisers LLC raised its stake in Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock worth $31,000 after buying an additional 799 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at about $38,000. Larson Financial Group LLC grew its position in shares of 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 buying an additional 356 shares during the period. Finally, Ovata Capital Management Ltd acquired a new stake in Cisco Systems in the second quarter worth $44,000. Institutional investors own 71.28% of the company’s stock.
Shares of Cisco Systems stock opened at $39.55 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.72 and a quick ratio of 1.67. Cisco Systems, Inc. has a 1 year low of $32.40 and a 1 year high of $50.28. The firm has a market cap of $166.37 billion, a PE ratio of 14.94, a PEG ratio of 2.15 and a beta of 0.87. The company has a 50 day simple moving average of $39.82 and a two-hundred day simple moving average of $43.32.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Thursday, October 1st. Cisco Systems’s payout ratio is currently 49.32%.
A number of brokerages have commented on CSCO. Robert W. Baird reissued a “hold” rating and set a $48.00 price objective on shares of Cisco Systems in a report on Monday, August 10th. Bank of America cut their price target on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, September 16th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Cisco Systems in a research report on Thursday, August 13th. JPMorgan Chase & Co. cut their target price on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Finally, ValuEngine lowered Cisco Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and a consensus price target of $47.05.
In related news, CAO Prat Bhatt sold 2,873 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $42.11, for a total transaction of $120,982.03. Following the completion of the sale, the chief accounting officer now directly owns 82,006 shares in the company, valued at approximately $3,453,272.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 7,806 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total value of $328,632.60. The disclosure for this sale can be found here. Insiders have sold a total of 60,166 shares of company stock worth $2,528,248 over the last quarter. Corporate insiders own 0.03% of the company’s stock.
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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