Occidental Asset Management LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Occidental Asset Management LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,104 shares of the network equipment provider’s stock after selling 2,388 shares during the period. Occidental Asset Management LLC’s holdings in Cisco Systems were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Avity Investment Management Inc. boosted its holdings in shares of Cisco Systems by 5.2% during the 1st quarter. Avity Investment Management Inc. now owns 4,520 shares of the network equipment provider’s stock valued at $226,000 after purchasing an additional 225 shares during the last quarter. Independence Bank of Kentucky boosted its stake in Cisco Systems by 10.1% during the first quarter. Independence Bank of Kentucky now owns 12,537 shares of the network equipment provider’s stock valued at $626,000 after buying an additional 1,150 shares during the last quarter. S.E.E.D. Planning Group LLC increased its stake in Cisco Systems by 118.1% in the 1st quarter. S.E.E.D. Planning Group LLC now owns 25,187 shares of the network equipment provider’s stock worth $1,257,000 after acquiring an additional 13,640 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in Cisco Systems by 9.3% in the 1st quarter. OneAscent Wealth Management LLC now owns 4,370 shares of the network equipment provider’s stock worth $218,000 after acquiring an additional 371 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Cisco Systems by 3.4% during the 1st quarter. Financial Management Professionals Inc. now owns 9,025 shares of the network equipment provider’s stock valued at $450,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last ninety days. 0.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CSCO shares. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective on the stock. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. Finally, Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Up 0.1 %

NASDAQ:CSCO traded up $0.06 during midday trading on Friday, hitting $47.51. The stock had a trading volume of 23,921,057 shares, compared to its average volume of 20,878,226. The stock has a 50-day moving average of $47.06 and a 200 day moving average of $48.79. The company has a market capitalization of $191.41 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid 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 dividend yield of 3.37%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Cisco Systems Company Profile

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.