RKL Wealth Management LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

RKL Wealth Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 31.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,777 shares of the network equipment provider’s stock after acquiring an additional 1,621 shares during the period. RKL Wealth Management LLC’s holdings in Cisco Systems were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rovin Capital UT ADV purchased a new position in Cisco Systems during the 1st quarter valued at approximately $297,000. ABLE Financial Group LLC grew its holdings in shares of Cisco Systems by 6.7% in the first quarter. ABLE Financial Group LLC now owns 5,138 shares of the network equipment provider’s stock valued at $317,000 after purchasing an additional 322 shares in the last quarter. Alta Advisers Ltd raised its stake in Cisco Systems by 49.0% during the first quarter. Alta Advisers Ltd now owns 19,459 shares of the network equipment provider’s stock valued at $1,201,000 after purchasing an additional 6,400 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its position in Cisco Systems by 15.4% during the first quarter. Benchmark Financial Wealth Advisors LLC now owns 11,894 shares of the network equipment provider’s stock valued at $734,000 after purchasing an additional 1,585 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Cisco Systems by 2.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 38,265 shares of the network equipment provider’s stock worth $2,361,000 after buying an additional 987 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Citigroup boosted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $69.38 on Tuesday. The stock has a market capitalization of $274.74 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 4.11 and a beta of 0.88. The stock has a 50-day moving average of $62.87 and a 200 day moving average of $61.19. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

Cisco Systems (NASDAQ:CSCO) last announced 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 for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company 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. This represents a $1.64 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems Company 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.