Oak Associates Ltd. OH trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 998,030 shares of the network equipment provider's stock after selling 164,084 shares during the quarter. Cisco Systems comprises 4.1% of Oak Associates Ltd. OH's investment portfolio, making the stock its 4th biggest position. Oak Associates Ltd. OH's holdings in Cisco Systems were worth $59,083,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in CSCO. FPC Investment Advisory Inc. purchased a new position in Cisco Systems in the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $31,000. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after buying an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by company insiders.
Cisco Systems Stock Performance
NASDAQ CSCO traded down $0.09 during trading hours on Tuesday, hitting $57.32. The company had a trading volume of 4,906,792 shares, compared to its average volume of 20,038,116. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market cap of $228.04 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The business has a 50 day moving average of $61.19 and a 200-day moving average of $59.08.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Cisco Systems Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.86%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is currently 71.62%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on CSCO shares. Citigroup reduced their price target on shares of Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday. Morgan Stanley upped their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. StockNews.com cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.74.
Check Out Our Latest Analysis on Cisco Systems
Cisco Systems Profile
(
Free Report)
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.
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