Virginia Wealth Management Group Inc. Purchases 1,691 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Virginia Wealth Management Group Inc. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,985 shares of the network equipment provider’s stock after buying an additional 1,691 shares during the period. Cisco Systems accounts for approximately 2.9% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 9th biggest holding. Virginia Wealth Management Group Inc.’s holdings in Cisco Systems were worth $4,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Mainstream Capital Management LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at about $132,000. Proficio Capital Partners LLC boosted its stake in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Cisco Systems by 8.3% in the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock valued at $314,000 after purchasing an additional 407 shares during the last quarter. Finally, AlTi Global Inc. boosted its stake in shares of Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after purchasing an additional 6,811 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

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 on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,573 shares of company stock valued at $4,392,619 in the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Down 1.1%

Shares of Cisco Systems stock opened at $65.15 on Wednesday. The business has a fifty day simple moving average of $59.85 and a two-hundred day simple moving average of $60.46. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market capitalization of $257.99 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) 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 business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSCO. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. The Goldman Sachs Group increased their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.