RKL Wealth Management LLC Sells 440 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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RKL Wealth Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,917 shares of the network equipment provider’s stock after selling 440 shares during the period. RKL Wealth Management LLC’s holdings in Cisco Systems were worth $760,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC raised its position in Cisco Systems by 4.4% in the second quarter. Fisher Asset Management LLC now owns 29,677,761 shares of the network equipment provider’s stock worth $1,624,264,000 after purchasing an additional 1,253,256 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Cisco Systems by 4.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,269,461 shares of the network equipment provider’s stock worth $618,297,000 after purchasing an additional 616,591 shares in the last quarter. California Public Employees Retirement System raised its position in Cisco Systems by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 13,051,256 shares of the network equipment provider’s stock worth $565,511,000 after purchasing an additional 173,161 shares in the last quarter. APG Asset Management N.V. raised its position in Cisco Systems by 28.5% in the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after purchasing an additional 2,472,300 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Cisco Systems by 9.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 10,115,186 shares of the network equipment provider’s stock worth $553,606,000 after purchasing an additional 889,285 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

In related news, Director Wesley G. Bush purchased 10,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $55.74 per share, with a total value of $557,400.00. Following the completion of the purchase, the director now directly owns 3,017 shares of the company’s stock, valued at $168,167.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The disclosure for this sale can be found here. Insiders have sold 91,925 shares of company stock worth $4,976,706 over the last three months. 0.03% of the stock is owned by insiders.

Several research firms recently issued reports on CSCO. Royal Bank of Canada dropped their price target on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. set a $62.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Monday, August 12th. BidaskClub lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Barclays initiated coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price target for the company. Finally, Credit Suisse Group dropped their price objective on shares of Cisco Systems from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.59.

CSCO opened at $47.91 on Friday. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The company’s 50 day simple moving average is $54.34 and its 200-day simple moving average is $53.77. The stock has a market capitalization of $205.18 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. Cisco Systems’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.92%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Read More: What does a hold rating mean?

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

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