Oak Asset Management LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,557 shares of the network equipment provider’s stock after selling 489 shares during the quarter. Oak Asset Management LLC’s holdings in Cisco Systems were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Moneta Group Investment Advisors LLC boosted its position in Cisco Systems by 112,307.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after buying an additional 59,466,550 shares during the last quarter. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter worth about $2,028,781,000. Morgan Stanley grew its position in shares of Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the period. Vanguard Group Inc. lifted its stake in Cisco Systems by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider’s stock valued at $15,110,293,000 after purchasing an additional 5,586,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cisco Systems by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 70,560,539 shares of the network equipment provider’s stock valued at $3,331,344,000 after buying an additional 3,841,840 shares during the last quarter. 71.96% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Tigress Financial reissued a “buy” rating and issued a $73.00 price objective on shares of Cisco Systems in a report on Friday, March 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cisco Systems from $55.00 to $54.00 in a research note on Monday, May 22nd. Raymond James raised their price objective on shares of Cisco Systems from $63.00 to $64.00 in a report on Thursday, May 18th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 7th. Finally, Piper Sandler decreased their price objective on Cisco Systems from $53.00 to $51.00 in a report on Thursday, May 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $56.52.
Insider Activity
Cisco Systems Trading Down 1.5 %
NASDAQ:CSCO opened at $50.33 on Monday. The firm’s 50 day moving average is $48.72 and its 200 day moving average is $48.87. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $52.56. The stock has a market capitalization of $205.10 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $14.36 billion. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 3.38 earnings per share for the current year.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Thursday, July 6th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 3.10%. Cisco Systems’s payout ratio is currently 56.12%.
Cisco Systems Profile
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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