JGP Wealth Management LLC Purchases 6,833 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Jun 26th, 2023

JGP Wealth Management LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 267,181 shares of the network equipment provider’s stock after purchasing an additional 6,833 shares during the quarter. Cisco Systems comprises approximately 2.5% of JGP Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. JGP Wealth Management LLC’s holdings in Cisco Systems were worth $13,967,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Dakota Wealth Management increased its stake in shares of Cisco Systems by 8.3% in the first quarter. Dakota Wealth Management now owns 64,851 shares of the network equipment provider’s stock valued at $3,390,000 after purchasing an additional 4,975 shares during the period. Congress Wealth Management LLC DE boosted its holdings in shares of Cisco Systems by 6.8% in the first quarter. Congress Wealth Management LLC DE now owns 239,383 shares of the network equipment provider’s stock valued at $12,514,000 after acquiring an additional 15,325 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Cisco Systems by 8.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,437,160 shares of the network equipment provider’s stock valued at $336,503,000 after acquiring an additional 491,971 shares in the last quarter. KFG Wealth Management LLC bought a new position in shares of Cisco Systems in the first quarter valued at approximately $221,000. Finally, Kessler Investment Group LLC boosted its holdings in shares of Cisco Systems by 6,006.2% in the first quarter. Kessler Investment Group LLC now owns 23,570 shares of the network equipment provider’s stock valued at $1,232,000 after acquiring an additional 23,184 shares in the last quarter. Institutional investors and hedge funds own 71.96% of the company’s stock.

Insider Activity

In other news, COO Maria Martinez sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00. Following the transaction, the chief operating officer now owns 414,033 shares in the company, valued at approximately $21,065,999.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jeffery S. Sharritts sold 5,175 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $49.11, for a total transaction of $254,144.25. Following the transaction, the executive vice president now owns 259,893 shares in the company, valued at approximately $12,763,345.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Maria Martinez sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00. Following the transaction, the chief operating officer now owns 414,033 shares in the company, valued at approximately $21,065,999.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,093 shares of company stock worth $1,963,134. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Down 1.5 %

CSCO stock opened at $50.33 on Monday. Cisco Systems, Inc. has a 12-month low of $38.60 and a 12-month high of $52.56. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 0.16. The company has a market cap of $205.10 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.29 and a beta of 1.01. The company has a 50 day moving average of $48.72 and a two-hundred day moving average of $48.87.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Cisco Systems had a net margin of 20.89% and a return on equity of 31.66%. The company had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.38 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Thursday, July 6th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.10%. Cisco Systems’s dividend payout ratio is currently 56.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Cisco Systems from $55.00 to $54.00 in a report on Monday, May 22nd. The Goldman Sachs Group started coverage on shares of Cisco Systems in a report on Monday, March 6th. They issued a “neutral” rating for the company. Tigress Financial restated a “buy” rating and set a $73.00 target price on shares of Cisco Systems in a report on Friday, March 17th. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 7th. Finally, Barclays reduced their target price on shares of Cisco Systems from $52.00 to $51.00 in a report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.52.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.