Walled Lake Planning & Wealth Management LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Walled Lake Planning & Wealth Management LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 122,000 shares of the network equipment provider’s stock after selling 2,552 shares during the period. Cisco Systems makes up 2.7% of Walled Lake Planning & Wealth Management LLC’s holdings, making the stock its 8th largest holding. Walled Lake Planning & Wealth Management LLC’s holdings in Cisco Systems were worth $7,529,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CSCO. Brighton Jones LLC increased its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares during the period. Revolve Wealth Partners LLC increased its position in Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares during the period. Physician Wealth Advisors Inc. bought a new position in Cisco Systems during the 4th quarter worth $181,000. Alliancebernstein L.P. increased its position in Cisco Systems by 50.3% during the 4th quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider’s stock worth $392,375,000 after buying an additional 2,219,311 shares during the period. Finally, Summit Financial LLC grew its holdings in shares of Cisco Systems by 55.0% during the 4th quarter. Summit Financial LLC now owns 82,275 shares of the network equipment provider’s stock worth $4,871,000 after purchasing an additional 29,187 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Morgan Stanley increased their target price on Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. CICC Research initiated coverage on Cisco Systems in a report on Monday, July 14th. They set an “outperform” rating and a $78.00 target price on the stock. Finally, Wolfe Research initiated coverage on Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.35.

Cisco Systems Price Performance

Shares of CSCO opened at $67.92 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $268.96 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The business has a 50-day moving average of $66.51 and a 200-day moving average of $62.52.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the company earned $0.88 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. Cisco Systems’s payout ratio is currently 66.94%.

Insiders Place Their Bets

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares of the company’s stock, valued at approximately $11,331,498.27. The trade was a 1.34% 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 valued at $6,271,054 in the last 90 days. Company insiders own 0.01% of the company’s stock.

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.