Golden State Equity Partners Purchases 12,808 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Golden State Equity Partners increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 953.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,151 shares of the network equipment provider’s stock after acquiring an additional 12,808 shares during the period. Golden State Equity Partners’ holdings in Cisco Systems were worth $838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP raised its stake in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. Czech National Bank raised its position in Cisco Systems by 6.4% during the 3rd quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock worth $43,678,000 after purchasing an additional 49,100 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cisco Systems by 19.4% during the 3rd quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock worth $4,393,000 after buying an additional 13,406 shares during the period. Azzad Asset Management Inc. ADV grew its position in shares of Cisco Systems by 2.3% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock valued at $2,103,000 after buying an additional 907 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock valued at $2,761,000 after buying an additional 1,827 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares in the company, valued at $12,596,059. The trade was a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $60.60 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $241.36 billion, a PE ratio of 26.01, a PEG ratio of 4.43 and a beta of 0.84. The stock’s 50 day moving average price is $59.44 and its 200-day moving average price is $54.54. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CSCO shares. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Barclays lifted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

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.