Revolve Wealth Partners LLC Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Revolve Wealth Partners LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,682 shares of the network equipment provider’s stock after purchasing an additional 1,013 shares during the period. Revolve Wealth Partners LLC’s holdings in Cisco Systems were worth $356,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. RFG Advisory LLC lifted its position in Cisco Systems by 2.4% during the first quarter. RFG Advisory LLC now owns 42,135 shares of the network equipment provider’s stock valued at $2,103,000 after acquiring an additional 990 shares during the last quarter. International Assets Investment Management LLC lifted its position in Cisco Systems by 15.6% during the first quarter. International Assets Investment Management LLC now owns 39,625 shares of the network equipment provider’s stock valued at $1,983,000 after acquiring an additional 5,359 shares during the last quarter. RDA Financial Network raised its holdings in shares of Cisco Systems by 8.5% in the first quarter. RDA Financial Network now owns 8,006 shares of the network equipment provider’s stock worth $400,000 after buying an additional 629 shares during the last quarter. Steph & Co. raised its holdings in shares of Cisco Systems by 6.6% in the first quarter. Steph & Co. now owns 14,077 shares of the network equipment provider’s stock worth $703,000 after buying an additional 873 shares during the last quarter. Finally, Baker Boyer National Bank raised its holdings in shares of Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $56.76 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $228.68 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.87. The firm’s fifty day simple moving average is $51.17 and its two-hundred day simple moving average is $48.60.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CSCO. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a report on Wednesday. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.74.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

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.