McIlrath & Eck LLC Has $588,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

McIlrath & Eck LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,941 shares of the network equipment provider’s stock after selling 939 shares during the quarter. McIlrath & Eck LLC’s holdings in Cisco Systems were worth $588,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. JDM Financial Group LLC increased its stake 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. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $30,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $63.42 on Wednesday. The firm has a market capitalization of $252.30 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $58.89 and its 200-day moving average price is $59.81. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.59%. Cisco Systems’s payout ratio is 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,239 shares of company stock worth $2,181,437 over the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Citigroup upped 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. New Street Research reissued a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.