BerganKDV Wealth Management LLC Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

BerganKDV Wealth Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,802 shares of the network equipment provider’s stock after buying an additional 1,243 shares during the period. BerganKDV Wealth Management LLC’s holdings in Cisco Systems were worth $2,888,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CSCO. Sandy Cove Advisors LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $33,000. Evolution Advisers Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $33,000. Regency Capital Management Inc. DE bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $34,000. Steward Financial Group LLC bought a new stake in Cisco Systems in the fourth quarter worth $36,000. Finally, Conrad Siegel Investment Advisors Inc. bought a new stake in Cisco Systems in the first quarter worth $33,000. 73.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Cowen dropped their target price on Cisco Systems to $58.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Morgan Stanley dropped their target price on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Citigroup dropped their target price on Cisco Systems from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, May 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $51.00 target price (down from $62.00) on shares of Cisco Systems in a report on Thursday, July 14th. Finally, Wells Fargo & Company lowered their price target on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.23.

Insider Transactions at Cisco Systems

In other news, SVP Prat Bhatt sold 3,700 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $160,358.00. Following the completion of the transaction, the senior vice president now owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prat Bhatt sold 3,700 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $160,358.00. Following the completion of the transaction, the senior vice president now directly owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 12,717 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total value of $556,877.43. Following the transaction, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock valued at $1,103,159 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

CSCO traded down $0.37 during midday trading on Friday, reaching $45.01. The company had a trading volume of 19,533,918 shares, compared to its average volume of 16,972,012. 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 has a 50-day moving average of $43.96 and a two-hundred day moving average of $49.96. The company has a market cap of $186.38 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.23 and a beta of 0.97. Cisco Systems, Inc. has a 1 year low of $40.82 and a 1 year high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $13.33 billion. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.

Cisco Systems Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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