Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Occidental Asset Management LLC

Occidental Asset Management LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,272 shares of the network equipment provider’s stock after selling 320 shares during the quarter. Occidental Asset Management LLC’s holdings in Cisco Systems were worth $1,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steward Financial Group LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $26,000. Altshuler Shaham Ltd bought a new stake in shares of Cisco Systems during the 1st quarter worth about $32,000. Carmel Capital Partners LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth about $35,000. Tucker Asset Management LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth about $35,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 2,579 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the transaction, the chief financial officer now owns 281,493 shares of the company’s stock, valued at $14,257,620.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 2,579 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the completion of the transaction, the chief financial officer now owns 281,493 shares of the company’s stock, valued at approximately $14,257,620.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James boosted their price target on shares of Cisco Systems from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. StockNews.com assumed coverage on shares of Cisco Systems in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, August 21st. Jefferies Financial Group lifted their price objective on shares of Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Piper Sandler lifted their price objective on shares of Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $59.43.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $56.11 on Tuesday. The firm has a fifty day simple moving average of $54.20 and a 200-day simple moving average of $51.17. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $58.19. The stock has a market capitalization of $227.52 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.48 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The business had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Cisco Systems’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.58 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 50.81%.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.