Oppenheimer & Co. Inc. Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Oppenheimer & Co. Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 446,481 shares of the network equipment provider’s stock after selling 400 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cisco Systems were worth $27,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $26,000. Navigoe LLC purchased a new stake in Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CSCO shares. Piper Sandler lifted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Stock Performance

Cisco Systems stock opened at $66.32 on Monday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.65. The stock’s 50-day moving average is $61.38 and its 200-day moving average is $60.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market cap of $262.63 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insiders Place Their Bets

In related news, insider Jeetendra I. Patel sold 9,961 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 over the last three months. Company insiders own 0.01% of the company’s stock.

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.