Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,298 shares of the network equipment provider’s stock after purchasing an additional 612 shares during the period. Golden State Wealth Management LLC’s holdings in Cisco Systems were worth $389,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CSCO. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. purchased a new position in Cisco Systems during the 4th quarter worth $31,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. 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 report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. KeyCorp started coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target on the stock. Piper Sandler upped their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Finally, New Street Research reissued a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $69.53.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s 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 transaction, the senior vice president owned 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $69.64 on Friday. The stock has a fifty day moving average price of $63.93 and a 200 day moving average price of $61.48. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The firm has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Cisco Systems 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.