Hurlow Wealth Management Group Inc. Sells 470 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hurlow Wealth Management Group Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,263 shares of the network equipment provider’s stock after selling 470 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in Cisco Systems were worth $263,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Shulman DeMeo Asset Management LLC increased its holdings in shares of Cisco Systems by 6.0% during the 1st quarter. Shulman DeMeo Asset Management LLC now owns 10,116 shares of the network equipment provider’s stock worth $505,000 after purchasing an additional 570 shares during the period. Cardinal Capital Management increased its stake in Cisco Systems by 9.0% in the first quarter. Cardinal Capital Management now owns 149,082 shares of the network equipment provider’s stock valued at $7,441,000 after acquiring an additional 12,320 shares during the period. Franklin Street Advisors Inc. NC increased its stake in Cisco Systems by 0.7% in the first quarter. Franklin Street Advisors Inc. NC now owns 233,684 shares of the network equipment provider’s stock valued at $11,663,000 after acquiring an additional 1,662 shares during the period. Janiczek Wealth Management LLC increased its stake in Cisco Systems by 13.1% in the first quarter. Janiczek Wealth Management LLC now owns 19,110 shares of the network equipment provider’s stock valued at $954,000 after acquiring an additional 2,214 shares during the period. Finally, Exeter Financial LLC increased its stake in Cisco Systems by 3.2% in the first quarter. Exeter Financial LLC now owns 99,756 shares of the network equipment provider’s stock valued at $4,799,000 after acquiring an additional 3,116 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CSCO shares. Oppenheimer upped their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. One equities research 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’s stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ:CSCO opened at $47.50 on Friday. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company has a market capitalization of $191.37 billion, a PE ratio of 15.98, a PEG ratio of 2.71 and a beta of 0.85. The company has a 50 day moving average price of $47.09 and a two-hundred day moving average price of $48.82.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating 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 firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was down 12.8% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is 53.87%.

Cisco Systems Profile

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.