Golden State Wealth Management LLC Purchases 9,637 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Golden State Wealth Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 169.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,323 shares of the network equipment provider's stock after purchasing an additional 9,637 shares during the quarter. Golden State Wealth Management LLC's holdings in Cisco Systems were worth $946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Aurora Private Wealth Inc. bought a new stake in Cisco Systems during the 1st quarter valued at $996,000. Independent Solutions Wealth Management LLC increased its position in shares of Cisco Systems by 0.3% in the first quarter. Independent Solutions Wealth Management LLC now owns 81,995 shares of the network equipment provider's stock valued at $5,058,000 after acquiring an additional 277 shares during the period. Spire Wealth Management raised its stake in shares of Cisco Systems by 6.9% during the first quarter. Spire Wealth Management now owns 45,961 shares of the network equipment provider's stock valued at $2,836,000 after acquiring an additional 2,972 shares during the last quarter. waypoint wealth counsel boosted its holdings in shares of Cisco Systems by 3.1% during the first quarter. waypoint wealth counsel now owns 13,455 shares of the network equipment provider's stock worth $830,000 after purchasing an additional 400 shares during the period. Finally, Valicenti Advisory Services Inc. boosted its holdings in shares of Cisco Systems by 4.5% during the first quarter. Valicenti Advisory Services Inc. now owns 6,830 shares of the network equipment provider's stock worth $421,000 after purchasing an additional 295 shares during the period. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 0.4%

CSCO stock traded down $0.30 on Friday, reaching $68.65. 26,213,514 shares of the company traded hands, compared to its average volume of 20,249,969. The firm has a fifty day simple moving average of $62.31 and a 200-day simple moving average of $61.02. The company has a market cap of $271.85 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 4.12 and a beta of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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 dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president now directly owns 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now 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. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. New Street Research reiterated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.53.

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.