BKM Wealth Management LLC Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

BKM Wealth Management LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,778 shares of the network equipment provider’s stock after acquiring an additional 636 shares during the quarter. BKM Wealth Management LLC’s holdings in Cisco Systems were worth $1,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. WNY Asset Management LLC increased its stake in Cisco Systems by 7.4% in the first quarter. WNY Asset Management LLC now owns 3,651 shares of the network equipment provider’s stock valued at $225,000 after purchasing an additional 250 shares during the last quarter. IFP Advisors Inc increased its stake in Cisco Systems by 2.6% in the first quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider’s stock valued at $6,882,000 after purchasing an additional 2,839 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Cisco Systems by 52.6% in the first quarter. CBIZ Investment Advisory Services LLC now owns 984 shares of the network equipment provider’s stock valued at $61,000 after purchasing an additional 339 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in Cisco Systems by 148.1% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 5,164 shares of the network equipment provider’s stock valued at $319,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in Cisco Systems in the first quarter valued at $459,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.4%

Shares of CSCO opened at $68.05 on Friday. The company has a market capitalization of $269.48 billion, a P/E ratio of 27.78, a P/E/G ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a 50-day moving average price of $65.84 and a 200 day moving average price of $62.11.

Cisco Systems (NASDAQ:CSCO) last issued 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. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm 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 $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was 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 of the company’s stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president directly owned 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several analyst reports. Piper Sandler upped their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Wolfe Research started coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.35.

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.