Parisi Gray Wealth Management Has $1.37 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Parisi Gray Wealth Management decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,203 shares of the network equipment provider’s stock after selling 458 shares during the period. Parisi Gray Wealth Management’s holdings in Cisco Systems were worth $1,370,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 2.2%

Shares of CSCO opened at $66.06 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock has a market cap of $261.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The firm has a 50 day simple moving average of $59.61 and a 200-day simple moving average of $60.38.

Cisco Systems (NASDAQ:CSCO) last announced its 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. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.48%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has initiated a stock buyback 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CSCO shares. The Goldman Sachs Group boosted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,400 shares of company stock worth $4,564,439. Insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.