Parr Mcknight Wealth Management Group LLC Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Parr Mcknight Wealth Management Group LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 36.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,532 shares of the network equipment provider’s stock after selling 51,393 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Cisco Systems were worth $5,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Navigoe LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. 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 report on Thursday, May 15th. Wolfe Research began coverage on shares of Cisco Systems in a research report on Tuesday. They issued a “peer perform” rating for the company. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research 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 stock a “neutral” rating in a research report on Thursday, May 15th. Eight 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider owned 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% 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.

Cisco Systems Price Performance

Shares of CSCO stock opened at $69.27 on Thursday. The company has a market capitalization of $274.31 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The firm has a fifty day simple moving average of $64.63 and a 200-day simple moving average of $61.68. 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 posted 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 firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid 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 2.37%. Cisco Systems’s dividend payout ratio (DPR) 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.