Summit Wealth Partners LLC Invests $688,000 in Cisco Systems, Inc. $CSCO

Key Points

• Summit Wealth Partners opened a new position in Cisco Systems during the first quarter, buying 8,873 shares valued at about $688,000.
• Cisco reported better-than-expected quarterly results, with EPS of $1.06 versus estimates of $1.03 and revenue of $15.84 billion, up 12% year over year.
• The company also declared a quarterly dividend of $0.42 per share, payable July 22, which works out to an annualized yield of about 1.4%.

Summit Wealth Partners LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,873 shares of the network equipment provider's stock, valued at approximately $688,000.

A number of other large investors have also added to or reduced their stakes in the company. Intesa Sanpaolo Wealth Management purchased a new position in shares of Cisco Systems in the 4th quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at about $25,000. Jessup Wealth Management Inc purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $29,000. EQ Wealth Advisors LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $31,000. Finally, Board of the Pension Protection Fund bought a new stake in Cisco Systems in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 7,127 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $119.91, for a total value of $854,598.57. Following the completion of the sale, the executive vice president owned 140,857 shares of the company's stock, valued at $16,890,162.87. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeetendra I. Patel sold 7,169 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $117.28, for a total transaction of $840,780.32. Following the transaction, the insider directly owned 246,737 shares in the company, valued at approximately $28,937,315.36. The trade was a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 47,650 shares of company stock worth $5,668,823. Corporate insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on CSCO shares. Zacks Research cut shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. The Goldman Sachs Group upped their price objective on shares of Cisco Systems from $116.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Truist Financial initiated coverage on shares of Cisco Systems in a report on Tuesday, March 31st. They set a "buy" rating and a $94.00 target price on the stock. Barclays lifted their target price on shares of Cisco Systems from $76.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 14th. Finally, UBS Group upped their price target on shares of Cisco Systems from $95.00 to $132.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.90.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $121.53 on Tuesday. The firm has a market cap of $479.00 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01. Cisco Systems, Inc. has a fifty-two week low of $65.75 and a fifty-two week high of $130.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 0.92. The business has a 50 day moving average price of $106.91 and a 200-day moving average price of $88.40.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.03. The business had revenue of $15.84 billion for the quarter, compared to analyst estimates of $15.56 billion. Cisco Systems had a net margin of 20.14% and a return on equity of 28.44%. The company's revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. Cisco Systems has set its Q4 2026 guidance at 1.160-1.180 EPS and its FY 2026 guidance at 4.270-4.290 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.54 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, July 6th. Cisco Systems's dividend payout ratio (DPR) is currently 54.55%.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.