Wagner Wealth Management LLC Sells 1,177 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wagner Wealth Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.3% during the first quarter, Holdings Channel reports. The institutional investor owned 3,882 shares of the network equipment provider’s stock after selling 1,177 shares during the quarter. Wagner Wealth Management LLC’s holdings in Cisco Systems were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the fourth quarter valued at about $26,000. Navigoe LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the fourth quarter valued at approximately $30,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $65.51 on Tuesday. The firm has a market cap of $259.42 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The stock’s 50-day moving average is $60.72 and its 200-day moving average is $60.62. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president now owns 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president now owns 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock valued at $4,671,930 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Monday. Rosenblatt Securities raised their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

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.