Ullmann Wealth Partners Group LLC Acquires 987 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ullmann Wealth Partners Group LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,062 shares of the network equipment provider’s stock after buying an additional 987 shares during the quarter. Ullmann Wealth Partners Group LLC’s holdings in Cisco Systems were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Foster Group Inc. increased its holdings in Cisco Systems by 47.1% in the 1st quarter. Foster Group Inc. now owns 6,654 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 2,130 shares in the last quarter. Vest Financial LLC increased its holdings in Cisco Systems by 6.5% in the 1st quarter. Vest Financial LLC now owns 706,823 shares of the network equipment provider’s stock worth $43,618,000 after purchasing an additional 43,442 shares in the last quarter. Annex Advisory Services LLC increased its holdings in Cisco Systems by 340.4% in the 1st quarter. Annex Advisory Services LLC now owns 25,911 shares of the network equipment provider’s stock worth $1,599,000 after purchasing an additional 20,027 shares in the last quarter. Breakwater Capital Group increased its holdings in Cisco Systems by 61.7% in the 1st quarter. Breakwater Capital Group now owns 10,422 shares of the network equipment provider’s stock worth $643,000 after purchasing an additional 3,978 shares in the last quarter. Finally, Charles Schwab Trust Co increased its stake in shares of Cisco Systems by 9.3% in the first quarter. Charles Schwab Trust Co now owns 6,007 shares of the network equipment provider’s stock valued at $371,000 after buying an additional 510 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Up 0.4%

Shares of NASDAQ:CSCO opened at $64.62 on Friday. The business’s 50 day simple moving average is $59.52 and its two-hundred day simple moving average is $60.27. The firm has a market cap of $255.90 billion, a P/E ratio of 28.22, a PEG ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued 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 dividend yield of 2.54%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Cisco Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CSCO shares. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. UBS Group increased their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. New Street Research reissued a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity

In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president now owns 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,616 shares of company stock worth $2,640,095 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

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.