Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Oakworth Capital Inc.

Oakworth Capital Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 31,233 shares of the network equipment provider’s stock after acquiring an additional 561 shares during the period. Oakworth Capital Inc.’s holdings in Cisco Systems were worth $1,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new position in Cisco Systems during the 4th quarter worth approximately $32,000. Fortis Capital Advisors LLC purchased a new position in Cisco Systems during the 4th quarter worth approximately $34,000. Morton Brown Family Wealth LLC grew its position in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.02 on Wednesday, hitting $47.90. 7,838,110 shares of the company were exchanged, compared to its average volume of 19,485,229. The company’s 50 day moving average price is $49.18 and its two-hundred day moving average price is $50.32. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a market capitalization of $193.96 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.73 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue was down 5.9% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 3.19 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 48.63%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 over the last quarter. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSCO shares. Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Barclays lifted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley began coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $56.03.

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.