Carlton Hofferkamp & Jenks Wealth Management LLC Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)


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Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,949 shares of the network equipment provider’s stock after selling 310 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Cisco Systems were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cardinal Capital Management Inc. raised its holdings in Cisco Systems by 2.8% during the first quarter. Cardinal Capital Management Inc. now owns 504,108 shares of the network equipment provider’s stock worth $26,067,000 after purchasing an additional 13,615 shares in the last quarter. Northwest Bancshares Inc. boosted its position in shares of Cisco Systems by 1.8% during the 1st quarter. Northwest Bancshares Inc. now owns 141,417 shares of the network equipment provider’s stock worth $7,313,000 after purchasing an additional 2,468 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth $1,835,000. Tealwood Asset Management Inc. boosted its position in shares of Cisco Systems by 80.2% in the 4th quarter. Tealwood Asset Management Inc. now owns 65,171 shares of the network equipment provider’s stock worth $2,916,000 after buying an additional 29,009 shares in the last quarter. Finally, Doyle Wealth Management boosted its position in shares of Cisco Systems by 38.5% in the 4th quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after buying an additional 7,672 shares in the last quarter. Hedge funds and other institutional investors own 70.62% of the company’s stock.

In related news, CEO Charles Robbins sold 8,497 shares of the firm’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total transaction of $392,561.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Prat Bhatt sold 6,273 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $296,148.33. Following the transaction, the chief accounting officer now directly owns 119,282 shares of the company’s stock, valued at $5,631,303.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,776 shares of company stock valued at $1,832,205. 0.02% of the stock is owned by corporate insiders.

Shares of NASDAQ CSCO traded down $0.71 during mid-day trading on Tuesday, hitting $50.46. 392,970 shares of the stock traded hands, compared to its average volume of 21,005,725. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.59 and a quick ratio of 1.54. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $53.18. The company has a market cap of $213.03 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95. The firm has a 50 day simple moving average of $51.33 and a two-hundred day simple moving average of $45.58.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the business posted $0.77 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th were given a dividend of $0.37 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 2.93%. The ex-dividend date was Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 50.68%.

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cisco Systems in a research note on Monday, April 26th. They set a “hold” rating and a $55.00 price objective for the company. Raymond James raised their price objective on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. The Goldman Sachs Group upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $59.00 in a research note on Wednesday, March 31st. Oppenheimer reaffirmed a “buy” rating and issued a $50.00 target price on shares of Cisco Systems in a research report on Tuesday, February 9th. Finally, Piper Sandler raised their price target on Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Fourteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.71.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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