Virginia Wealth Management Group Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 3.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 56,703 shares of the network equipment provider’s stock after acquiring an additional 2,107 shares during the quarter. Cisco Systems comprises approximately 2.7% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 7th largest holding. Virginia Wealth Management Group Inc.’s holdings in Cisco Systems were worth $3,063,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. St. Johns Investment Management Company LLC lifted its stake in Cisco Systems by 1.1% during the first quarter. St. Johns Investment Management Company LLC now owns 27,236 shares of the network equipment provider’s stock worth $1,519,000 after purchasing an additional 291 shares during the last quarter. Eagle Global Advisors LLC increased its position in Cisco Systems by 0.6% during the first quarter. Eagle Global Advisors LLC now owns 225,441 shares of the network equipment provider’s stock worth $12,571,000 after buying an additional 1,433 shares during the period. Congress Asset Management Co. MA increased its position in Cisco Systems by 1.3% during the first quarter. Congress Asset Management Co. MA now owns 233,395 shares of the network equipment provider’s stock worth $13,014,000 after buying an additional 3,042 shares during the period. First United Bank & Trust increased its position in Cisco Systems by 0.9% during the first quarter. First United Bank & Trust now owns 34,612 shares of the network equipment provider’s stock worth $1,929,000 after buying an additional 306 shares during the period. Finally, Xponance Inc. increased its position in Cisco Systems by 2.5% during the first quarter. Xponance Inc. now owns 400,578 shares of the network equipment provider’s stock worth $22,336,000 after buying an additional 9,832 shares during the period. Hedge funds and other institutional investors own 73.18% of the company’s stock.
In related news, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares in the company, valued at approximately $28,532,556.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Maria Martinez sold 3,628 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $43.34, for a total value of $157,237.52. Following the completion of the sale, the chief operating officer now owns 295,305 shares in the company, valued at $12,798,518.70. The disclosure for this sale can be found here. In the last three months, insiders sold 25,326 shares of company stock worth $1,103,159. Company insiders own 0.02% of the company’s stock.
NASDAQ:CSCO opened at $42.88 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $46.41 and its two-hundred day moving average is $53.27. Cisco Systems, Inc. has a 52 week low of $41.02 and a 52 week high of $64.29. The company has a market cap of $177.56 billion, a PE ratio of 15.05, a P/E/G ratio of 2.27 and a beta of 0.99.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the previous year, the business posted $0.75 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.
Several research firms have commented on CSCO. Wells Fargo & Company cut their price target on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft dropped their target price on Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. Piper Sandler dropped their target price on Cisco Systems from $57.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Finally, Oppenheimer dropped their target price on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.
Cisco Systems Company Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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