Curated Wealth Partners LLC Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Curated Wealth Partners LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,959 shares of the network equipment provider’s stock, valued at approximately $244,000.

Several other institutional investors have also modified their holdings of CSCO. Tallon Kerry Patrick purchased a new stake in Cisco Systems during the 4th quarter valued at about $603,000. Brighton Jones LLC lifted its holdings in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares during the period. WCM Investment Management LLC grew its position in Cisco Systems by 152.6% in the 4th quarter. WCM Investment Management LLC now owns 88,025 shares of the network equipment provider’s stock valued at $5,210,000 after acquiring an additional 53,183 shares in the last quarter. Finally, Quotient Wealth Partners LLC grew its holdings in shares of Cisco Systems by 27.6% in the fourth quarter. Quotient Wealth Partners LLC now owns 10,703 shares of the network equipment provider’s stock valued at $634,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.2%

CSCO stock opened at $65.90 on Tuesday. The stock has a market cap of $260.96 billion, a P/E ratio of 28.78, a PEG ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company’s 50 day moving average is $59.69 and its two-hundred day moving average is $60.43.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm posted $0.88 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,400 shares of company stock valued at $4,564,439. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.