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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. FMR LLC lifted its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Norges Bank bought a new position in Cisco Systems in the 4th quarter worth about $3,297,905,000. Northern Trust Corp raised its holdings in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cisco Systems by 7.8% in the 4th 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. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Cisco Systems stock opened at $65.90 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a 50 day moving average price of $59.69 and a 200-day moving average price of $60.43. The company has a market capitalization of $260.96 billion, a PE ratio of 28.78, a P/E/G ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

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

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Cisco Systems Dividend Announcement

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

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s 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 transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $4,564,439 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CSCO. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reiterated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. 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. Finally, Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.