Texas Capital Bank Wealth Management Services Inc Boosts Holdings in Cisco Systems, Inc. $CSCO

Texas Capital Bank Wealth Management Services Inc lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 78.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,231 shares of the network equipment provider’s stock after purchasing an additional 4,928 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Cisco Systems were worth $693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Brighton Jones LLC lifted its position in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the period. Transce3nd LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $96,000. Alpine Global Management LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $233,000. Finally, Alta Advisers Ltd lifted its position in shares of Cisco Systems by 20.9% in the 4th quarter. Alta Advisers Ltd now owns 13,059 shares of the network equipment provider’s stock worth $773,000 after purchasing an additional 2,259 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $66.95 on Tuesday. The company has a 50 day moving average price of $68.00 and a 200-day moving average price of $63.42. Cisco Systems, Inc. has a 52 week low of $47.85 and a 52 week high of $72.55. The firm has a market capitalization of $265.12 billion, a PE ratio of 25.55, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The firm had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.41 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems’s payout ratio is currently 62.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSCO. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Barclays lifted their price target on shares of Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Piper Sandler lifted their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, August 14th. KeyCorp began coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target for the company. Finally, Hsbc Global Res cut shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.53.

Insider Transactions at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,731 shares of company stock valued at $5,021,519. Company insiders own 0.01% of the company’s stock.

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.