Strategic Financial Concepts LLC Has $273,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Strategic Financial Concepts LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,417 shares of the network equipment provider’s stock after selling 348 shares during the period. Strategic Financial Concepts LLC’s holdings in Cisco Systems were worth $273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Novem Group grew its stake in Cisco Systems by 16.5% in the first quarter. Novem Group now owns 12,782 shares of the network equipment provider’s stock valued at $789,000 after purchasing an additional 1,814 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Cisco Systems by 6.7% during the 1st quarter. Private Trust Co. NA now owns 48,924 shares of the network equipment provider’s stock valued at $3,019,000 after buying an additional 3,057 shares during the last quarter. Alley Investment Management Company LLC grew its stake in shares of Cisco Systems by 1.0% in the 1st quarter. Alley Investment Management Company LLC now owns 108,656 shares of the network equipment provider’s stock valued at $6,705,000 after buying an additional 1,066 shares in the last quarter. Kanawha Capital Management LLC increased its holdings in Cisco Systems by 0.3% in the first quarter. Kanawha Capital Management LLC now owns 308,254 shares of the network equipment provider’s stock worth $19,022,000 after buying an additional 863 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in Cisco Systems by 4.7% during the first quarter. Aaron Wealth Advisors LLC now owns 33,477 shares of the network equipment provider’s stock valued at $2,066,000 after acquiring an additional 1,503 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $69.64 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a fifty day moving average price of $63.67 and a 200 day moving average price of $61.38. The stock has a market cap of $275.77 billion, a P/E ratio of 28.42, a PEG ratio of 4.10 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.35%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. 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. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.53.

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.