Pallas Capital Advisors LLC Purchases 6,652 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pallas Capital Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,499 shares of the network equipment provider's stock after acquiring an additional 6,652 shares during the quarter. Pallas Capital Advisors LLC's holdings in Cisco Systems were worth $1,697,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC boosted its stake in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter valued at approximately $30,000. Institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CSCO shares. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Rosenblatt Securities increased their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Price Performance

Shares of CSCO traded down $1.01 during mid-day trading on Friday, reaching $64.09. The company had a trading volume of 14,630,776 shares, compared to its average volume of 20,142,195. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company's 50-day moving average is $60.25 and its 200-day moving average is $60.53. The company has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems's payout ratio is presently 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the sale, the executive vice president now directly owns 131,676 shares of the company's stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,931 shares of company stock valued at $4,671,930. Corporate insiders own 0.01% of the company's stock.

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.