HB Wealth Management LLC Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• HB Wealth Management LLC increased its stake in Cisco Systems by 19.1%, acquiring an additional 62,100 shares in the 1st quarter, bringing its total holdings to 386,846 shares valued at $23.87 million.
• Cisco reported earnings per share of $0.96 for the recent quarter, surpassing analysts' expectations and reflecting a year-over-year revenue increase of 11.4%.
• The company declared a quarterly dividend of $0.41 per share, resulting in an annualized dividend yield of 2.39%, with a payout ratio of 66.94%.

HB Wealth Management LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 386,846 shares of the network equipment provider's stock after acquiring an additional 62,100 shares during the period. HB Wealth Management LLC's holdings in Cisco Systems were worth $23,872,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC boosted its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Fairway Wealth LLC boosted its stake in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares during the period. Finally, Accredited Wealth Management LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CSCO shares. Morgan Stanley raised their price target on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $70.35.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.46 during trading hours on Wednesday, hitting $68.42. The company's stock had a trading volume of 5,924,090 shares, compared to its average volume of 21,168,488. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The company has a market capitalization of $270.92 billion, a PE ratio of 27.94, a PEG ratio of 4.06 and a beta of 0.90. The business's 50-day moving average is $66.60 and its two-hundred day moving average is $62.56. 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 (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 analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

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.