Oak Asset Management LLC Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Oak Asset Management LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,612 shares of the network equipment provider’s stock after selling 1,400 shares during the quarter. Oak Asset Management LLC’s holdings in Cisco Systems were worth $2,127,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC raised its position in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems in the 4th quarter worth about $33,000. Morton Brown Family Wealth LLC raised its position in Cisco Systems by 41.9% in 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 during the period. Finally, Bourgeon Capital Management LLC raised its position in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley started coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Monday, May 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.47.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 over the last 90 days. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $47.51 on Monday. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The firm’s 50 day moving average price is $47.06 and its 200-day moving average price is $48.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company has a market cap of $191.41 billion, a PE ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. Cisco Systems’s payout ratio is 53.87%.

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.