Oppenheimer Asset Management Inc. trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,015,787 shares of the network equipment provider's stock after selling 303 shares during the quarter. Cisco Systems comprises approximately 0.8% of Oppenheimer Asset Management Inc.'s investment portfolio, making the stock its 18th biggest position. Oppenheimer Asset Management Inc.'s holdings in Cisco Systems were worth $48,392,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC bought a new position in Cisco Systems during the 3rd quarter worth $231,000. Grimes & Company Inc. grew its stake in shares of Cisco Systems by 3.3% in the third quarter. Grimes & Company Inc. now owns 491,646 shares of the network equipment provider's stock valued at $19,666,000 after acquiring an additional 15,808 shares in the last quarter. Murphy Pohlad Asset Management LLC increased its position in Cisco Systems by 8.1% during the third quarter. Murphy Pohlad Asset Management LLC now owns 45,473 shares of the network equipment provider's stock worth $1,823,000 after acquiring an additional 3,415 shares during the period. Renaissance Group LLC raised its stake in Cisco Systems by 1.2% in the 3rd quarter. Renaissance Group LLC now owns 21,616 shares of the network equipment provider's stock worth $865,000 after purchasing an additional 248 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Cisco Systems by 1.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 19,873 shares of the network equipment provider's stock valued at $795,000 after purchasing an additional 250 shares during the period. 71.10% of the stock is currently owned by institutional investors and hedge funds.
Get Cisco Systems alerts:Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, February 16th. The Goldman Sachs Group started coverage on Cisco Systems in a report on Monday, March 6th. They set a "neutral" rating on the stock. Morgan Stanley raised their price target on Cisco Systems from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 16th. UBS Group upped their price objective on shares of Cisco Systems from $48.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, February 16th. Finally, Piper Sandler boosted their target price on shares of Cisco Systems from $49.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $56.38.
Cisco Systems Stock Performance
NASDAQ CSCO traded up $0.35 on Friday, hitting $46.91. 4,700,245 shares of the stock traded hands, compared to its average volume of 18,235,299. The firm has a market capitalization of $192.13 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.14 and a beta of 1.00. The business's fifty day moving average is $49.64 and its two-hundred day moving average is $47.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.41. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $52.56.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.34 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.33%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, April 4th. Cisco Systems's payout ratio is currently 57.14%.
Insider Buying and Selling at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 23,701 shares of the firm's stock in a transaction on Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the completion of the transaction, the executive vice president now directly owns 184,853 shares of the company's stock, valued at $9,409,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,142 shares of the business's stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total transaction of $153,266.76. Following the completion of the transaction, the executive vice president now directly owns 180,697 shares in the company, valued at approximately $8,814,399.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 23,701 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the completion of the sale, the executive vice president now owns 184,853 shares in the company, valued at approximately $9,409,017.70. The disclosure for this sale can be found here. Insiders have sold 47,568 shares of company stock valued at $2,376,624 in the last 90 days. 0.02% of the stock is currently owned by company insiders.
About Cisco Systems
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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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