Cornerstone Wealth Management LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Wealth Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,053 shares of the network equipment provider’s stock after purchasing an additional 889 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Cisco Systems were worth $1,899,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legacy Advisors LLC raised its holdings in Cisco Systems by 57.0% in the third quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock valued at $930,000 after acquiring an additional 6,283 shares in the last quarter. JT Stratford LLC increased its position in shares of Cisco Systems by 19.0% in the 3rd quarter. JT Stratford LLC now owns 34,896 shares of the network equipment provider’s stock valued at $1,876,000 after purchasing an additional 5,564 shares during the last quarter. Rainsberger Wealth Advisors Inc. raised its holdings in shares of Cisco Systems by 5.9% in the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 6,672 shares of the network equipment provider’s stock valued at $359,000 after purchasing an additional 372 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of Cisco Systems by 12.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,003,921 shares of the network equipment provider’s stock worth $161,476,000 after purchasing an additional 329,077 shares during the last quarter. Finally, Cito Capital Group LLC grew its stake in shares of Cisco Systems by 2.0% during the third quarter. Cito Capital Group LLC now owns 36,233 shares of the network equipment provider’s stock worth $1,948,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Down 0.4 %

Shares of NASDAQ:CSCO opened at $47.09 on Friday. The company has a market cap of $189.72 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.73 and a beta of 0.85. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The firm’s 50-day simple moving average is $47.00 and its 200-day simple moving average is $48.74. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. Citigroup began coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Wells Fargo & Company increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Barclays lifted their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.47.

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.