Philip James Wealth Mangement LLC Sells 888 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Philip James Wealth Mangement LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,624 shares of the network equipment provider’s stock after selling 888 shares during the period. Philip James Wealth Mangement LLC’s holdings in Cisco Systems were worth $3,062,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $132,000. Proficio Capital Partners LLC increased its position in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after buying an additional 7,338 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock worth $249,180,000 after buying an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario grew its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after acquiring an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. increased its holdings in Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after acquiring an additional 6,811 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer now directly owns 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president now owns 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their position. 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 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $68.95 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $62.31 and a 200-day moving average price of $61.02. The company has a market cap of $273.04 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 4.08 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.25.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CSCO shares. 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 report on Thursday, May 15th. Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. KeyCorp began coverage on Cisco Systems in a research report on Thursday. They set an “overweight” rating and a $77.00 price target for the company. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Evercore ISI boosted their price target on shares of 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, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.53.

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.