Jackson Thornton Wealth Management LLC Acquires Shares of 4,141 Cisco Systems, Inc. (NASDAQ:CSCO)

Jackson Thornton Wealth Management LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,141 shares of the network equipment provider's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Truist Financial Corp increased its holdings in shares of Cisco Systems by 42.7% in the 1st quarter. Truist Financial Corp now owns 3,507,169 shares of the network equipment provider's stock worth $216,427,000 after purchasing an additional 1,048,891 shares in the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of Cisco Systems by 5.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 22,045 shares of the network equipment provider's stock worth $1,360,000 after purchasing an additional 1,085 shares in the last quarter. Argyle Capital Management LLC increased its holdings in shares of Cisco Systems by 0.7% in the 1st quarter. Argyle Capital Management LLC now owns 78,509 shares of the network equipment provider's stock worth $4,845,000 after purchasing an additional 535 shares in the last quarter. Strategic Blueprint LLC increased its holdings in shares of Cisco Systems by 2.9% in the 1st quarter. Strategic Blueprint LLC now owns 20,805 shares of the network equipment provider's stock worth $1,284,000 after purchasing an additional 581 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of Cisco Systems by 2.9% in the first quarter. Catalyst Capital Advisors LLC now owns 60,053 shares of the network equipment provider's stock worth $3,706,000 after acquiring an additional 1,699 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Activity

In related news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities increased their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Cisco Systems Stock Up 1.5%

NASDAQ CSCO opened at $69.64 on Friday. The firm has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $63.93 and a two-hundred day moving average of $61.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business 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 dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

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.

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