Liberty Wealth Management LLC Purchases 2,086,315 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Liberty Wealth Management LLC increased its stake in Cisco Systems by 4,780.1%, acquiring an additional 2,086,315 shares, bringing its total ownership to 2,129,961 shares valued at approximately $131.4 million.
• CEO Charles Robbins and EVP Oliver Tuszik recently sold portions of their shares, with Robbins selling nearly $1.9 million worth, while insiders sold a total of 97,335 shares over the last three months.
• Cisco's recent earnings report revealed a net margin of 17.60% and a quarterly revenue of $14.15 billion, surpassing analysts' expectations and indicating an 11.4% increase from the previous year.

Liberty Wealth Management LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4,780.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,129,961 shares of the network equipment provider's stock after buying an additional 2,086,315 shares during the quarter. Cisco Systems makes up approximately 2.4% of Liberty Wealth Management LLC's portfolio, making the stock its 8th biggest position. Liberty Wealth Management LLC owned 0.05% of Cisco Systems worth $131,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DCF Advisers LLC lifted its holdings in Cisco Systems by 52.9% during the 1st quarter. DCF Advisers LLC now owns 65,000 shares of the network equipment provider's stock worth $4,011,000 after buying an additional 22,500 shares during the period. Beta Wealth Group Inc. lifted its holdings in Cisco Systems by 2.2% during the 1st quarter. Beta Wealth Group Inc. now owns 9,525 shares of the network equipment provider's stock worth $588,000 after buying an additional 206 shares during the period. Bank of Nova Scotia lifted its holdings in Cisco Systems by 70.0% during the 1st quarter. Bank of Nova Scotia now owns 4,499,038 shares of the network equipment provider's stock worth $277,636,000 after buying an additional 1,852,357 shares during the period. Aviso Wealth Management lifted its holdings in Cisco Systems by 22.5% during the 1st quarter. Aviso Wealth Management now owns 9,525 shares of the network equipment provider's stock worth $588,000 after buying an additional 1,750 shares during the period. Finally, R Squared Ltd acquired a new position in Cisco Systems during the 1st quarter worth about $222,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

CSCO stock opened at $67.11 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The business has a 50-day simple moving average of $66.87 and a two-hundred day simple moving average of $62.74. The company has a market capitalization of $265.76 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 4.01 and a beta of 0.91. 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 announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The company's revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several research analyst reports. Wolfe Research initiated coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley lifted their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, New Street Research reissued a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus target price of $70.35.

Cisco Systems Profile

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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