Silver Oak Securities Incorporated Has $604,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Silver Oak Securities Incorporated cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,918 shares of the network equipment provider’s stock after selling 973 shares during the period. Silver Oak Securities Incorporated’s holdings in Cisco Systems were worth $604,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc boosted its stake in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after acquiring an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised its holdings in Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC lifted its position in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. grew its holdings in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after purchasing an additional 169 shares during the period. Finally, Maple Capital Management Inc. increased its position in Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after buying an additional 170 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the transaction, the senior vice president now owns 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,931 shares of company stock valued at $4,671,930. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSCO. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Monday. Evercore ISI increased their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Cisco Systems Stock Up 0.8%

Shares of NASDAQ:CSCO opened at $65.84 on Friday. The business’s 50 day moving average is $61.20 and its 200 day moving average is $60.74. The stock has a market cap of $260.73 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. Cisco Systems’s payout ratio is presently 66.94%.

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.