Fiduciary Family Office LLC Invests $899,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Fiduciary Family Office LLC has acquired a new position in Cisco Systems, investing $899,000 for 14,561 shares in the first quarter, according to their recent SEC filing.
• Cisco reported a quarterly earnings per share (EPS) of $0.96, surpassing analysts' estimates, with revenue reaching $14.15 billion, a year-over-year increase of 11.4%.
• The company declared a quarterly dividend of $0.41 per share, representing an annualized yield of 2.3% and a payout ratio of 66.94%.

Fiduciary Family Office LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,561 shares of the network equipment provider's stock, valued at approximately $899,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after buying an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after buying an additional 2,474 shares during the last quarter. Phoenix Financial Ltd. lifted its stake in Cisco Systems by 90.4% in the fourth quarter. Phoenix Financial Ltd. now owns 62,059 shares of the network equipment provider's stock valued at $3,674,000 after buying an additional 29,466 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in Cisco Systems by 78.8% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 40,346 shares of the network equipment provider's stock valued at $2,388,000 after buying an additional 17,787 shares during the last quarter. Finally, Heritage Trust Co purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $6,800,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO opened at $71.79 on Friday. The company has a market cap of $284.29 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 3.88 and a beta of 0.91. The stock has a 50-day moving average of $67.49 and a 200-day moving average of $63.03. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $72.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CSCO shares. UBS Group upped their price target on Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley upped their price target on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.55.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

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.

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