Golden State Wealth Management LLC Has $946,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Golden State Wealth Management LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 169.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 15,323 shares of the network equipment provider’s stock after purchasing an additional 9,637 shares during the quarter. Golden State Wealth Management LLC’s holdings in Cisco Systems were worth $946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Navigoe LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC grew its holdings 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 valued at $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the 4th quarter worth $31,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $68.19 on Thursday. The stock has a market capitalization of $270.03 billion, a PE ratio of 27.83, a P/E/G ratio of 4.06 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $68.60. The firm has a fifty day simple moving average of $62.04 and a 200 day simple moving average of $60.95. 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 (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company 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%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm 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 $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems’s dividend payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. JPMorgan Chase & Co. boosted 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. Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.11.

Insider Activity

In related news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 over the last three months. Insiders own 0.01% of the company’s stock.

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.