Oak Asset Management LLC Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Oak Asset Management LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the first quarter, Holdings Channel.com reports. The fund owned 42,612 shares of the network equipment provider’s stock after selling 1,400 shares during the period. Oak Asset Management LLC’s holdings in Cisco Systems were worth $2,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $32,000. Delos Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC grew its holdings in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Barclays boosted their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Oppenheimer boosted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Up 0.1 %

Shares of Cisco Systems stock opened at $47.51 on Monday. The company has a fifty day simple moving average of $47.06 and a 200-day simple moving average of $48.78. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $191.41 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.75 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. Cisco Systems’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.37%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last 90 days. 0.02% of the stock is owned by insiders.

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.