Texas Capital Bank Wealth Management Services Inc Increases Stock Position in Cisco Systems, Inc. $CSCO

Key Points

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Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 78.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,231 shares of the network equipment provider's stock after buying an additional 4,928 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Cisco Systems were worth $693,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC increased its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares during the period. Pandora Wealth Inc. bought a new stake in Cisco Systems during the 1st quarter worth approximately $31,000. Finally, Fairway Wealth LLC increased its holdings in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 400 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of analyst reports. Barclays upped their target price on shares of Cisco Systems from $66.00 to $71.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. UBS Group upped their target price on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. New Street Research reissued a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.53.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the firm'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 sale, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

CSCO stock opened at $66.95 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Cisco Systems, Inc. has a 52 week low of $47.85 and a 52 week high of $72.55. The firm's fifty day moving average is $68.00 and its 200 day moving average is $63.42. The firm has a market cap of $265.12 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.83 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $14.67 billion for the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems's dividend payout ratio (DPR) is 62.60%.

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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