Hemington Wealth Management Acquires 764 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hemington Wealth Management raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,346 shares of the network equipment provider’s stock after purchasing an additional 764 shares during the period. Hemington Wealth Management’s holdings in Cisco Systems were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CSCO. Tompkins Financial Corp increased its position in Cisco Systems by 9.5% in the 3rd quarter. Tompkins Financial Corp now owns 199,757 shares of the network equipment provider’s stock valued at $10,739,000 after acquiring an additional 17,333 shares during the period. Comerica Bank increased its position in shares of Cisco Systems by 118.1% during the third quarter. Comerica Bank now owns 1,851,518 shares of the network equipment provider’s stock worth $99,538,000 after buying an additional 1,002,401 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $10,299,000. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Cisco Systems during the third quarter worth $4,298,000. Finally, Verity Asset Management Inc. acquired a new stake in shares of Cisco Systems during the third quarter worth $215,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.1 %

Cisco Systems stock traded up $0.49 during midday trading on Thursday, hitting $46.76. 19,741,432 shares of the stock were exchanged, compared to its average volume of 19,592,980. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The stock has a market capitalization of $188.39 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The business’s 50-day moving average price is $46.89 and its 200-day moving average price is $48.61. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CSCO shares. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a report on Monday, May 13th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last three months. 0.02% of the stock is currently owned by insiders.

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.