McGlone Suttner Wealth Management Inc. Purchases 3,235 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

McGlone Suttner Wealth Management Inc. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.1% during the first quarter, HoldingsChannel.com reports. The firm owned 22,193 shares of the network equipment provider’s stock after buying an additional 3,235 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Cisco Systems were worth $1,370,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC lifted its holdings in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its holdings in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after acquiring an additional 169 shares in the last quarter. Capital Advantage Inc. raised its holdings in Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after acquiring an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory raised its holdings in Cisco Systems by 3.9% during the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock worth $272,000 after acquiring an additional 174 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CSCO. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research reiterated a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Piper Sandler upped their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and upped 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, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares of the company’s stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 1.5%

NASDAQ:CSCO opened at $69.64 on Friday. The company has a market cap of $275.77 billion, a P/E ratio of 28.42, a P/E/G ratio of 4.15 and a beta of 0.90. The stock’s fifty day moving average price is $63.93 and its two-hundred day moving average price is $61.48. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 26.48% and a net margin of 17.60%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

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.