Valley Wealth Managers Inc. Has $24.81 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Valley Wealth Managers Inc. reduced its holdings in Cisco Systems by 3.7%, owning 402,044 shares valued at approximately $24.81 million, making it the 12th biggest holding in their portfolio.
• Cisco reported quarterly earnings of $0.96 EPS, exceeding analysts' expectations, with a revenue increase of 11.4% year-over-year.
• The company recently announced a quarterly dividend of $0.41 per share, resulting in an annualized yield of 2.39% and a payout ratio of 66.94%.

Valley Wealth Managers Inc. cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 402,044 shares of the network equipment provider's stock after selling 15,505 shares during the quarter. Cisco Systems accounts for about 1.9% of Valley Wealth Managers Inc.'s portfolio, making the stock its 12th biggest holding. Valley Wealth Managers Inc.'s holdings in Cisco Systems were worth $24,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Navigoe LLC bought a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the last quarter. Fairway Wealth LLC grew its stake in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after buying an additional 400 shares in the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $37,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Up 0.6%

CSCO opened at $68.69 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The company has a market cap of $272.01 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $66.43 and a 200 day moving average of $62.41.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.39%. Cisco Systems's payout ratio is presently 66.94%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Evercore ISI increased their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Rosenblatt Securities lifted 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. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.

Insider Buying and Selling at Cisco Systems

In other news, 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 value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems 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 transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 over the last quarter. Company insiders own 0.01% of the company's stock.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.