Curated Wealth Partners LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,959 shares of the network equipment provider's stock, valued at approximately $244,000.
Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $26,000. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. Institutional investors own 73.33% of the company's stock.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,573 shares of company stock valued at $4,392,619 over the last ninety days. 0.01% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.
View Our Latest Analysis on Cisco Systems
Cisco Systems Stock Performance
CSCO traded up $0.95 during mid-day trading on Thursday, reaching $65.14. 14,590,351 shares of the company traded hands, compared to its average volume of 20,134,098. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market capitalization of $257.95 billion, a P/E ratio of 28.45, a P/E/G ratio of 4.16 and a beta of 0.88. The company's fifty day moving average price is $60.04 and its 200-day moving average price is $60.49.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm earned $0.88 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Cisco Systems Company Profile
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Free Report)
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.
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