Golden State Equity Partners Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Golden State Equity Partners raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 88.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,664 shares of the network equipment provider's stock after buying an additional 12,513 shares during the period. Golden State Equity Partners' holdings in Cisco Systems were worth $1,645,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $31,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other news, 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 completion of the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president now directly owns 174,669 shares of the company's stock, valued at $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research analyst reports. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Piper Sandler lifted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.11.

Cisco Systems Stock Up 0.8%

CSCO stock opened at $67.89 on Wednesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $68.04. The business has a fifty day moving average price of $61.80 and a 200-day moving average price of $60.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market capitalization of $268.84 billion, a P/E ratio of 27.71, a P/E/G ratio of 4.03 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 for the quarter, topping analysts' consensus estimates 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 analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. Cisco Systems's revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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 given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.

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