Cornerstone Wealth Management LLC Purchases 889 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Wealth Management LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,053 shares of the network equipment provider’s stock after acquiring an additional 889 shares during the period. Cornerstone Wealth Management LLC’s holdings in Cisco Systems were worth $1,899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the period. Roble Belko & Company Inc lifted its position in shares of Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after buying an additional 2,788 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Cisco Systems in the 4th quarter valued at $28,685,000. Allen Mooney & Barnes Investment Advisors LLC raised its stake in Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of Cisco Systems by 0.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after acquiring an additional 1,520 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last three months, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by company insiders.

Cisco Systems Trading Down 0.4 %

NASDAQ CSCO opened at $47.09 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The company has a market capitalization of $189.72 billion, a PE ratio of 15.86, a P/E/G ratio of 2.73 and a beta of 0.85. The stock has a 50-day simple moving average of $47.00 and a 200 day simple moving average of $48.74.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CSCO shares. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Monday, May 13th. Wells Fargo & Company raised their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Oppenheimer increased their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.