Brown Miller Wealth Management LLC Has $4.56 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Brown Miller Wealth Management LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,899 shares of the network equipment provider's stock after acquiring an additional 7,569 shares during the period. Cisco Systems makes up approximately 1.6% of Brown Miller Wealth Management LLC's investment portfolio, making the stock its 7th largest position. Brown Miller Wealth Management LLC's holdings in Cisco Systems were worth $4,560,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CSCO. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $30,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 1.6%

Shares of NASDAQ:CSCO opened at $64.09 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $60.47 and a 200 day simple moving average of $60.58. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market cap of $253.80 billion, a P/E ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems's payout ratio is presently 66.94%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now directly owns 181,186 shares in the company, valued at $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock worth $4,671,930 in the last 90 days. Insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent analyst reports. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Profile

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.

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