Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by LifeSteps Financial Inc.

LifeSteps Financial Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,347 shares of the network equipment provider’s stock after buying an additional 320 shares during the period. LifeSteps Financial Inc.’s holdings in Cisco Systems were worth $392,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Penobscot Investment Management Company Inc. increased its stake in Cisco Systems by 0.3% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 110,899 shares of the network equipment provider’s stock worth $6,844,000 after buying an additional 347 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Cisco Systems by 27.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 5,131,144 shares of the network equipment provider’s stock valued at $316,643,000 after purchasing an additional 1,109,343 shares in the last quarter. Kavar Capital Partners Group LLC grew its position in shares of Cisco Systems by 3.1% in the first quarter. Kavar Capital Partners Group LLC now owns 6,984 shares of the network equipment provider’s stock valued at $431,000 after purchasing an additional 209 shares in the last quarter. Aspetuck Financial Management LLC purchased a new stake in shares of Cisco Systems in the first quarter valued at approximately $613,000. Finally, Pure Financial Advisors LLC grew its position in shares of Cisco Systems by 38.6% in the first quarter. Pure Financial Advisors LLC now owns 16,969 shares of the network equipment provider’s stock valued at $1,047,000 after purchasing an additional 4,722 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president now directly owns 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.4%

CSCO opened at $68.19 on Thursday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $68.64. The business has a fifty day simple moving average of $62.04 and a 200-day simple moving average of $60.95. The firm has a market cap of $270.03 billion, a P/E ratio of 27.83, a P/E/G ratio of 4.06 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate 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 period last year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business 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 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, KeyCorp upgraded Cisco Systems to a “strong-buy” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

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.