Pallas Capital Advisors LLC Buys 6,652 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pallas Capital Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 31.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 27,499 shares of the network equipment provider’s stock after acquiring an additional 6,652 shares during the period. Pallas Capital Advisors LLC’s holdings in Cisco Systems were worth $1,697,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth about $26,000. Navigoe LLC bought a new position in shares of Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth about $30,000. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction 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 $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $4,564,439 in the last quarter. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Down 0.2%

Shares of NASDAQ CSCO opened at $65.90 on Tuesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a market cap of $260.96 billion, a PE ratio of 28.78, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $59.69 and a two-hundred day moving average of $60.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.

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.