BXM Wealth LLC Acquires 959 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

BXM Wealth LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,763 shares of the network equipment provider’s stock after purchasing an additional 959 shares during the period. BXM Wealth LLC’s holdings in Cisco Systems were worth $601,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC increased its holdings in Cisco Systems by 160.4% in 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 last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the 4th quarter worth about $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in Cisco Systems in the 4th quarter worth about $31,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Down 0.6%

Shares of CSCO opened at $68.93 on Tuesday. The firm has a market cap of $272.96 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 4.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The firm has a 50 day moving average price of $64.18 and a 200-day moving average price of $61.58.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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 company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business posted $0.88 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast 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, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. 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 2.38%. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Activity at Cisco Systems

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on CSCO shares. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report 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 note on Thursday, May 15th. Evercore ISI boosted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.53.

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.