Butensky & Cohen Financial Security Inc. increased its holdings in Cisco Systems by 2.1% during the first quarter, adding 1,913 shares to bring their total holdings to 92,234 shares worth $4,603,000. Other institutional investors also invested in Cisco Systems, with Valued Wealth Advisors acquiring a stake worth $32,000, Delos Wealth Advisors increasing their holdings by 1,666.7%, DiNuzzo Private Wealth purchasing a new position for $33,000, Morton Brown Family Wealth LLC increasing their holdings by 41.9%, and Bourgeon Capital Management LLC increasing their position by 3,500.0%. Currently, 73.33% of the capital is in the hands of institutional investors.
Cisco Systems’ stock opened at $45.97 with a fifty-day simple moving average of $47.22 and a two-hundred-day simple moving average of $48.85. The company has a market capitalization of $185.2 billion, a P/E ratio of 15.48, a PEG ratio of 2.66, and a beta of 0.85. Cisco Systems last released its quarterly earnings data on May 15th, reporting $0.88 earnings per share for the quarter, beating the consensus estimate. The company also announced a quarterly dividend of $0.40 per share, with a dividend yield of 3.48%.
Several research analysts have provided ratings for CSCO stock, with Bank of America upgrading it to a “buy” rating and increasing their price target to $60.00. Needham & Company LLC reissued a “hold” rating, while Morgan Stanley initiated coverage with an “overweight” rating. Barclays and Deutsche Bank Aktiengesellschaft raised their price targets as well. Insiders at Cisco Systems have been active, with executive vice president Deborah L. Stahlkopf and senior vice president Maria Victoria Wong selling shares in May 2019.
Cisco Systems designs, manufactures, and sells Internet protocol-based networks and products globally. Their portfolio includes switching, enterprise routing, wireless products, and computing capabilities. Receive news and ratings from Cisco Systems daily by signing up for MarketBeat.com’s free daily email newsletter.
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