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

Golden State Equity Partners increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 88.4% in the 1st quarter, HoldingsChannel reports. The fund owned 26,664 shares of the network equipment provider’s stock after buying an additional 12,513 shares during the quarter. Golden State Equity Partners’ holdings in Cisco Systems were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new stake in shares of Cisco Systems in the first quarter worth $299,000. Global Assets Advisory LLC purchased a new stake in Cisco Systems in the 1st quarter worth $237,000. Field & Main Bank increased its stake in Cisco Systems by 10.4% in the 1st quarter. Field & Main Bank now owns 23,377 shares of the network equipment provider’s stock worth $1,442,000 after buying an additional 2,200 shares in the last quarter. Silver Lake Advisory LLC increased its stake in Cisco Systems by 0.8% in the 1st quarter. Silver Lake Advisory LLC now owns 129,335 shares of the network equipment provider’s stock worth $7,981,000 after buying an additional 1,060 shares in the last quarter. Finally, Asset Planning Services Inc. LA ADV increased its stake in Cisco Systems by 0.3% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 108,752 shares of the network equipment provider’s stock worth $6,711,000 after buying an additional 300 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSCO. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $73.00 in a report on Monday, June 16th. Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Finally, Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company’s stock, valued at $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares in the company, valued at $2,419,921.53. This trade represents a 9.90% 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 three months. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 0.8%

CSCO opened at $67.89 on Wednesday. The firm has a market cap 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, Inc. has a 12 month low of $44.50 and a 12 month high of $68.04. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $61.80 and a 200 day moving average of $60.90.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 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.