Simplicity Wealth LLC Has $2.41 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Simplicity Wealth LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 405.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,029 shares of the network equipment provider's stock after acquiring an additional 31,303 shares during the period. Simplicity Wealth LLC's holdings in Cisco Systems were worth $2,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CSCO. GAMMA Investing LLC boosted its position in shares of Cisco Systems by 16.6% during the first quarter. GAMMA Investing LLC now owns 108,871 shares of the network equipment provider's stock valued at $6,718,000 after buying an additional 15,514 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Cisco Systems by 6.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 79,471 shares of the network equipment provider's stock valued at $4,904,000 after purchasing an additional 4,742 shares in the last quarter. Everest Management Corp. purchased a new stake in shares of Cisco Systems during the 1st quarter valued at about $674,000. Tounjian Advisory Partners LLC purchased a new position in shares of Cisco Systems during the first quarter valued at $6,329,000. Finally, Northstar Advisory Group LLC purchased a new stake in Cisco Systems during the first quarter valued at approximately $279,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Rosenblatt Securities increased their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.80 during mid-day trading on Thursday, hitting $64.99. 5,916,342 shares of the company's stock were exchanged, compared to its average volume of 20,099,953. The firm has a market capitalization of $257.36 billion, a P/E ratio of 28.38, a P/E/G 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. The business's 50 day moving average is $60.04 and its two-hundred day moving average is $60.49. 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 - Get Free Report) last issued its 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 business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.52%. Cisco Systems's dividend payout ratio is presently 66.94%.

Cisco Systems declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares of the company's stock, 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. Over the last ninety days, insiders have sold 68,573 shares of company stock worth $4,392,619. 0.01% of the stock is owned by corporate insiders.

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.