Parr Mcknight Wealth Management Group LLC Has $5.53 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Parr Mcknight Wealth Management Group LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 36.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,532 shares of the network equipment provider's stock after selling 51,393 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Cisco Systems were worth $5,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter worth about $3,297,905,000. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. bought a new position in Cisco Systems during the 4th quarter valued at about $413,491,000. GAMMA Investing LLC lifted its holdings in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after purchasing an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after purchasing an additional 4,880,747 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the transaction, the executive vice president owned 177,027 shares in the company, valued at approximately $11,331,498.27. This 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. 0.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler boosted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Finally, Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.71 on Friday, hitting $68.06. 8,255,925 shares of the stock were exchanged, compared to its average volume of 20,336,668. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The business's fifty day moving average is $64.84 and its 200 day moving average is $61.75. 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 $269.50 billion, a PE ratio of 27.77, a P/E/G ratio of 4.14 and a beta of 0.90.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 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.