PBMares Wealth Management LLC Has $372,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

PBMares Wealth Management LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,026 shares of the network equipment provider’s stock after selling 1,857 shares during the quarter. PBMares Wealth Management LLC’s holdings in Cisco Systems were worth $372,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CSCO. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC raised its holdings in shares of Cisco Systems by 160.4% during the fourth 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 period. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $31,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CSCO shares. Piper Sandler lifted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. New Street Research reiterated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Citigroup upped 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. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.11.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at $2,419,921.53. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $67.38 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $67.92. The firm has a market capitalization of $266.82 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. 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 business has a fifty day moving average of $61.58 and a 200 day moving average of $60.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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 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 last year, the firm posted $0.88 EPS. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.43%. Cisco Systems’s payout ratio is currently 66.94%.

About Cisco Systems

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.