RWA Wealth Partners LLC Grows Stake in Cisco Systems, Inc. $CSCO

Key Points

• RWA Wealth Partners LLC increased its stake in Cisco Systems by 39.2%, owning 295,681 shares valued at approximately $18.25 million as of the latest SEC filing.
• Cisco reported earnings of $0.99 per share for the last quarter, surpassing expectations, with revenues of $14.67 billion, a year-over-year increase of 7.6%.
• The company declared a quarterly dividend of $0.41 per share, set to be paid on October 22nd, with a yield of 2.5%.

RWA Wealth Partners LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 39.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,681 shares of the network equipment provider's stock after purchasing an additional 83,275 shares during the period. RWA Wealth Partners LLC's holdings in Cisco Systems were worth $18,246,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSCO. Vanguard Group Inc. increased its position in Cisco Systems by 0.5% during the first quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider's stock worth $24,002,095,000 after buying an additional 1,865,648 shares in the last quarter. Northern Trust Corp increased its position in Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. Invesco Ltd. increased its position in Cisco Systems by 10.4% during the first quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider's stock worth $2,907,599,000 after buying an additional 4,437,450 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Cisco Systems by 37.4% during the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider's stock worth $2,898,722,000 after buying an additional 12,775,066 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock worth $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 4.5%

Shares of CSCO opened at $66.20 on Monday. The stock's 50-day moving average is $67.98 and its two-hundred day moving average is $63.38. The stock has a market cap of $262.15 billion, a PE ratio of 25.27, a P/E/G ratio of 2.83 and a beta of 0.91. Cisco Systems, Inc. has a 12 month low of $47.85 and a 12 month high of $72.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. The company had revenue of $14.67 billion for the quarter, compared to analysts' expectations of $14.63 billion. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.5%. Cisco Systems's payout ratio is 62.60%.

Insider Activity

In related news, CFO Richard Scott Herren sold 15,678 shares of the business's 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. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the transaction, the senior vice president owned 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,731 shares of company stock worth $5,021,519 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent research reports. UBS Group raised their price target on Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wolfe Research initiated coverage on Cisco Systems in a report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Barclays raised their price objective on Cisco Systems from $66.00 to $71.00 and gave the stock an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Evercore ISI raised their price objective on Cisco Systems from $72.00 to $74.00 and gave the stock an "in-line" rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.53.

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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