Arkfeld Wealth Strategies L.L.C. Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Arkfeld Wealth Strategies L.L.C. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,761 shares of the network equipment provider’s stock after selling 482 shares during the quarter. Cisco Systems makes up 1.8% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 15th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Cisco Systems were worth $4,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CSCO. Tallon Kerry Patrick purchased a new stake in Cisco Systems in the 4th quarter worth approximately $603,000. Brighton Jones LLC grew its holdings in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after buying an additional 24,562 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares during the last quarter. Sargent Investment Group LLC increased its position in Cisco Systems by 16.0% during the fourth quarter. Sargent Investment Group LLC now owns 6,308 shares of the network equipment provider’s stock worth $371,000 after purchasing an additional 872 shares during the last quarter. Finally, Private Management Group Inc. purchased a new position in Cisco Systems during the fourth quarter worth approximately $220,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,616 shares of company stock valued at $2,640,095 over the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. 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. New Street Research reaffirmed a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Get Our Latest Analysis on CSCO

Cisco Systems Price Performance

Shares of CSCO opened at $64.62 on Friday. The stock’s fifty day moving average is $59.52 and its 200-day moving average is $60.27. The firm has a market capitalization of $255.90 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The business also recently announced 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 dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems Profile

(Free Report)

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.

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