Arkfeld Wealth Strategies L.L.C. Has $3.90 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Arkfeld Wealth Strategies L.L.C. lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 79,208 shares of the network equipment provider’s stock after selling 1,087 shares during the quarter. Cisco Systems makes up approximately 2.2% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 11th largest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Cisco Systems were worth $3,898,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CSCO. PGIM Custom Harvest LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth $255,000. Operose Advisors LLC lifted its stake in Cisco Systems by 86.3% during the 3rd quarter. Operose Advisors LLC now owns 5,977 shares of the network equipment provider’s stock valued at $321,000 after acquiring an additional 2,769 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Cisco Systems by 17.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 721,397 shares of the network equipment provider’s stock valued at $38,782,000 after acquiring an additional 105,890 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of Cisco Systems by 1.1% during the 3rd quarter. Mutual Advisors LLC now owns 173,480 shares of the network equipment provider’s stock worth $9,326,000 after purchasing an additional 1,824 shares during the period. Finally, Mendel Money Management raised its stake in shares of Cisco Systems by 8.1% during the 3rd quarter. Mendel Money Management now owns 13,245 shares of the network equipment provider’s stock worth $712,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Barclays lifted their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.52 during mid-day trading on Wednesday, reaching $46.86. The stock had a trading volume of 13,344,416 shares, compared to its average volume of 19,751,250. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The stock has a market capitalization of $188.79 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.74 and a beta of 0.85. The firm has a 50 day moving average price of $47.11 and a two-hundred day moving average price of $48.83.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.41%. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.