McKinley Carter Wealth Services Inc. Purchases 916 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

McKinley Carter Wealth Services Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,316 shares of the network equipment provider’s stock after purchasing an additional 916 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Cisco Systems were worth $451,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Finally, Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Price Performance

Shares of CSCO opened at $64.19 on Thursday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The business has a 50-day simple moving average of $60.04 and a two-hundred day simple moving average of $60.49. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market cap of $254.19 billion, a PE ratio of 28.03, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.55%. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,573 shares of company stock worth $4,392,619 in the last 90 days. Corporate insiders own 0.01% 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.