Cassia Capital Partners LLC Acquires 4,858 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cassia Capital Partners LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 28.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,891 shares of the network equipment provider's stock after acquiring an additional 4,858 shares during the period. Cisco Systems comprises 0.8% of Cassia Capital Partners LLC's holdings, making the stock its 17th biggest holding. Cassia Capital Partners LLC's holdings in Cisco Systems were worth $1,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $132,000. Proficio Capital Partners LLC boosted its stake in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after purchasing an additional 59,680 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after purchasing an additional 904,548 shares in the last quarter. Finally, AlTi Global Inc. boosted its stake in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after purchasing an additional 6,811 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

Cisco Systems Trading Up 0.7%

Shares of Cisco Systems stock opened at $66.32 on Friday. The stock has a fifty day simple moving average of $61.38 and a 200 day simple moving average of $60.79. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.65. The company has a market capitalization of $262.63 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.47%. Cisco Systems's dividend payout ratio is currently 66.94%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 4,185 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the transaction, the senior vice president now owns 38,103 shares of the company's stock, valued at $2,419,921.53. This represents a 9.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

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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