Arkadios Wealth Advisors Acquires 32,505 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Arkadios Wealth Advisors increased its stake in Cisco Systems by 32.7%, owning 131,888 shares valued at approximately $8.1 million after acquiring an additional 32,505 shares in the first quarter.
• A total of 73.33% of Cisco's stock is now owned by hedge funds and institutional investors, with FMR LLC and Northern Trust Corp among those increasing their holdings significantly in the last quarter.
• Cisco Systems reported a quarterly earnings per share (EPS) of $0.96, exceeding analysts' expectations, alongside a revenue of $14.15 billion, marking an 11.4% increase year-over-year.

Arkadios Wealth Advisors increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 32.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,888 shares of the network equipment provider's stock after buying an additional 32,505 shares during the quarter. Arkadios Wealth Advisors' holdings in Cisco Systems were worth $8,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 2,474 shares during the last quarter. Alliancebernstein L.P. lifted its position in Cisco Systems by 50.3% in the fourth quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider's stock valued at $392,375,000 after purchasing an additional 2,219,311 shares during the last quarter. Summit Financial LLC lifted its position in Cisco Systems by 55.0% in the fourth quarter. Summit Financial LLC now owns 82,275 shares of the network equipment provider's stock valued at $4,871,000 after purchasing an additional 29,187 shares during the last quarter. Finally, Nemes Rush Group LLC lifted its position in Cisco Systems by 6.4% in the fourth quarter. Nemes Rush Group LLC now owns 243,781 shares of the network equipment provider's stock valued at $14,432,000 after purchasing an additional 14,626 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSCO. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. CICC Research assumed coverage on Cisco Systems in a research note on Monday, July 14th. They set an "outperform" rating and a $78.00 target price on the stock. Finally, Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.35.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $1.30 during trading on Friday, hitting $66.79. The company had a trading volume of 2,724,325 shares, compared to its average volume of 21,085,338. The stock has a 50 day simple moving average of $66.79 and a 200 day simple moving average of $62.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The firm has a market capitalization of $264.47 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% 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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.