Liberty Wealth Management LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,017 shares of the network equipment provider’s stock after purchasing an additional 3,940 shares during the quarter. Cisco Systems comprises about 0.8% of Liberty Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Liberty Wealth Management LLC’s holdings in Cisco Systems were worth $877,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth about $33,000. Lowe Wealth Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth about $38,000. Personal Wealth Partners bought a new position in Cisco Systems during the 2nd quarter worth about $44,000. Ashburton Jersey Ltd bought a new position in Cisco Systems during the 2nd quarter worth about $49,000. Finally, Cohen & Steers Inc. bought a new position in Cisco Systems during the 4th quarter worth about $51,000. 74.28% of the stock is currently owned by institutional investors.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the transaction, the chief financial officer now directly owns 349,122 shares of the company’s stock, valued at approximately $18,698,974.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 3,750 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $55.79, for a total transaction of $209,212.50. The disclosure for this sale can be found here. Insiders sold a total of 95,129 shares of company stock valued at $5,159,754 over the last ninety days. 0.03% of the stock is currently owned by insiders.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. Cisco Systems’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s payout ratio is currently 49.12%.
CSCO has been the topic of several recent research reports. MKM Partners dropped their target price on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group increased their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and set a $57.00 price target on shares of Cisco Systems in a research report on Monday. KeyCorp decreased their price target on shares of Cisco Systems from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, William Blair lowered shares of Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price target for the company. in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $56.24.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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