Carlton Hofferkamp & Jenks Wealth Management LLC Has $675,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Carlton Hofferkamp & Jenks Wealth Management LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,621 shares of the network equipment provider’s stock after buying an additional 1,900 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Cisco Systems were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mirador Capital Partners LP boosted its position in Cisco Systems by 1.7% during the second quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 199 shares during the last quarter. Weil Company Inc. boosted its position in shares of Cisco Systems by 0.5% during the 2nd quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock worth $2,134,000 after purchasing an additional 201 shares in the last quarter. Pinnacle Holdings LLC boosted its position in shares of Cisco Systems by 1.0% during the 2nd quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock worth $1,081,000 after purchasing an additional 201 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of Cisco Systems by 2.0% during the 2nd quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after purchasing an additional 202 shares in the last quarter. Finally, Keel Point LLC boosted its position in shares of Cisco Systems by 3.7% during the 2nd quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock worth $312,000 after purchasing an additional 202 shares in the last quarter. 73.31% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CSCO traded up $0.79 on Friday, hitting $46.94. The stock had a trading volume of 1,049,473 shares, compared to its average volume of 19,983,844. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. The stock has a market cap of $196.94 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 2.24 and a beta of 1.28. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The firm’s fifty day simple moving average is $48.15 and its two-hundred day simple moving average is $53.22.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The firm had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.98%. Cisco Systems’s payout ratio is currently 49.12%.

In other news, CEO Charles Robbins sold 18,955 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.04, for a total transaction of $948,508.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the sale, the executive vice president now owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on CSCO shares. Cowen cut their price objective on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. KeyCorp cut their price objective on shares of Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada lowered their target price on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Bank of America restated a “buy” rating and issued a $62.00 target price on shares of Cisco Systems in a report on Wednesday, July 10th. Finally, Goldman Sachs Group lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $56.00 to $48.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $56.04.

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.

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

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