Marvin & Palmer Associates Inc. Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Marvin & Palmer Associates Inc. has acquired a new position in Cisco Systems, purchasing 52,223 shares worth approximately $3.2 million, which now constitutes 4.8% of their portfolio.
• Cisco recently announced a quarterly dividend of $0.41 per share, giving it a dividend yield of 2.39% and a payout ratio of 66.94%.
• Analysts have generally rated Cisco with a "Moderate Buy," with a consensus price target of $70.35, based on the company's strong quarterly earnings exceeding expectations.

Marvin & Palmer Associates Inc. acquired a new position in shares of 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 institutional investor acquired 52,223 shares of the network equipment provider's stock, valued at approximately $3,223,000. Cisco Systems makes up 4.8% of Marvin & Palmer Associates Inc.'s holdings, making the stock its 3rd biggest holding.

Several other large investors have also recently bought and sold shares of CSCO. Navigoe LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC increased its position in shares of 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. Fairway Wealth LLC increased its position in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after buying an additional 400 shares in the last quarter. Finally, Accredited Wealth Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Up 0.6%

Cisco Systems stock opened at $68.69 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market capitalization of $272.01 billion, a P/E ratio of 28.04, a PEG ratio of 4.11 and a beta of 0.90. The stock has a 50-day simple moving average of $66.43 and a 200 day simple moving average of $62.46.

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, 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 business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the company posted $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.39%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Rosenblatt Securities upped their price objective 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, Wolfe Research began coverage on shares of Cisco Systems in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Company 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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