Carlton Hofferkamp & Jenks Wealth Management LLC Has $1.04 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,623 shares of the network equipment provider’s stock after selling 350 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Cisco Systems were worth $1,040,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Community Bank & Trust Waco Texas increased its holdings in shares of Cisco Systems by 0.7% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 107,736 shares of the network equipment provider’s stock valued at $5,734,000 after acquiring an additional 767 shares during the last quarter. Empower Advisory Group LLC boosted its position in Cisco Systems by 3.0% during the third quarter. Empower Advisory Group LLC now owns 60,191 shares of the network equipment provider’s stock worth $3,203,000 after purchasing an additional 1,760 shares during the period. RPG Investment Advisory LLC grew its holdings in Cisco Systems by 6.4% during the third quarter. RPG Investment Advisory LLC now owns 152,220 shares of the network equipment provider’s stock valued at $8,101,000 after purchasing an additional 9,112 shares during the last quarter. Barnett & Company Inc. acquired a new stake in shares of Cisco Systems in the third quarter worth $221,000. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 19.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 60,629 shares of the network equipment provider’s stock worth $3,227,000 after buying an additional 10,066 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Finally, Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.32.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $58.71 on Wednesday. The stock has a market capitalization of $234.30 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The firm has a 50 day moving average of $53.64 and a 200-day moving average of $49.57. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

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.