Oak Harvest Investment Services Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Oak Harvest Investment Services lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 22.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,238 shares of the network equipment provider's stock after buying an additional 27,893 shares during the period. Cisco Systems makes up 1.3% of Oak Harvest Investment Services' investment portfolio, making the stock its 23rd largest holding. Oak Harvest Investment Services' holdings in Cisco Systems were worth $9,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Cibc World Market Inc. increased its stake in Cisco Systems by 12.9% in the fourth quarter. Cibc World Market Inc. now owns 1,060,307 shares of the network equipment provider's stock valued at $62,770,000 after purchasing an additional 121,010 shares during the period. Cyr Financial Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at $627,000. Mediolanum International Funds Ltd grew its position in shares of Cisco Systems by 41.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 916,477 shares of the network equipment provider's stock valued at $54,113,000 after purchasing an additional 269,647 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $1,483,000. Finally, Lewis Asset Management LLC grew its stake in Cisco Systems by 24.4% in the 4th quarter. Lewis Asset Management LLC now owns 7,973 shares of the network equipment provider's stock worth $472,000 after acquiring an additional 1,565 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSCO. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, October 14th. Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Finally, Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.72.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company's stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $60.47 on Friday. The company has a 50 day moving average of $59.34 and a 200-day moving average of $54.35. The company has a market cap of $240.84 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. Cisco Systems's payout ratio is 68.67%.

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.

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