Larson Financial Group LLC Has $1.71 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Larson Financial Group LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 24.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,736 shares of the network equipment provider’s stock after purchasing an additional 5,510 shares during the period. Larson Financial Group LLC’s holdings in Cisco Systems were worth $1,712,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings 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 purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings 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 purchasing an additional 2,474 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $47,000. Finally, Flagship Wealth Advisors LLC bought a new stake in Cisco Systems during the 4th quarter worth about $108,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.9%

Shares of Cisco Systems stock opened at $67.18 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The stock has a market cap of $266.03 billion, a P/E ratio of 27.42, a P/E/G ratio of 4.06 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $65.34 and its 200-day moving average is $61.93.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating 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 business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share 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 paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last quarter. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. CICC Research assumed coverage on Cisco Systems in a research report on Monday. They set an “outperform” rating and a $78.00 target price for the company. Wolfe Research assumed coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a “peer perform” rating for the company. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.95.

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.