Oak Associates Ltd. OH Sells 1,770 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Oak Associates Ltd. OH lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,166,009 shares of the network equipment provider’s stock after selling 1,770 shares during the period. Cisco Systems accounts for 3.7% of Oak Associates Ltd. OH’s holdings, making the stock its 6th biggest position. Oak Associates Ltd. OH’s holdings in Cisco Systems were worth $55,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in shares of Cisco Systems by 1.1% in the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after purchasing an additional 264 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in Cisco Systems by 104.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after buying an additional 11,767 shares in the last quarter. Fiera Capital Corp bought a new position in Cisco Systems during the 4th quarter worth $871,000. Verity Asset Management Inc. boosted its position in shares of Cisco Systems by 18.4% in the fourth quarter. Verity Asset Management Inc. now owns 4,738 shares of the network equipment provider’s stock valued at $239,000 after acquiring an additional 735 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of Cisco Systems by 0.3% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 618,158 shares of the network equipment provider’s stock valued at $31,229,000 after acquiring an additional 1,692 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CSCO shares. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.89.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $49.80 on Friday. The company has a market capitalization of $200.63 billion, a PE ratio of 16.77, a P/E/G ratio of 3.87 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $48.05 and a two-hundred day moving average price of $47.96. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.47.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 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.