Virginia Wealth Management Group Inc. Has $4.69 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Virginia Wealth Management Group Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,985 shares of the network equipment provider’s stock after purchasing an additional 1,691 shares during the quarter. Cisco Systems makes up 2.9% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 9th largest holding. Virginia Wealth Management Group Inc.’s holdings in Cisco Systems were worth $4,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $132,000. Proficio Capital Partners LLC grew its holdings in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after buying an additional 59,680 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in Cisco Systems by 8.3% in the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock worth $314,000 after buying an additional 407 shares in the last quarter. Finally, AlTi Global Inc. grew its holdings in Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after buying an additional 6,811 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president now owns 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,573 shares of company stock valued at $4,392,619. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

CSCO opened at $65.15 on Wednesday. The stock has a market cap of $257.99 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 4.16 and a beta of 0.88. The stock has a fifty day moving average price of $59.85 and a 200 day moving average price of $60.46. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent analyst reports. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research restated a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems 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.