Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Trust Co. of Oklahoma

Trust Co. of Oklahoma lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,087 shares of the network equipment provider’s stock after selling 495 shares during the quarter. Trust Co. of Oklahoma’s holdings in Cisco Systems were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSCO. Steward Financial Group LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new position in shares of Cisco Systems in the 1st quarter worth approximately $32,000. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $34,000. Carmel Capital Partners LLC acquired a new position in shares of Cisco Systems in the 1st quarter worth approximately $35,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Cisco Systems in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insider Activity

In related news, CFO Richard Scott Herren sold 2,579 shares of Cisco Systems stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total transaction of $130,626.35. Following the completion of the sale, the chief financial officer now owns 281,493 shares of the company’s stock, valued at $14,257,620.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 2,579 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the sale, 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 through this link. Also, CEO Charles Robbins sold 17,687 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the sale, the chief executive officer now directly owns 716,191 shares of the company’s stock, valued at approximately $39,505,095.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,438 shares of company stock worth $2,948,779. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 0.1 %

Shares of CSCO stock opened at $56.11 on Tuesday. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $58.19. The stock has a market cap of $227.52 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.48 and a beta of 0.97. The business’s fifty day moving average is $54.20 and its 200-day moving average is $51.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38.

Cisco Systems (NASDAQ:CSCO) last issued 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. The business had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal 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 issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s payout ratio is 50.81%.

Analyst Ratings Changes

Several brokerages have recently commented on CSCO. Evercore ISI lifted their target price on Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Morgan Stanley raised their price target on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Raymond James raised their price target on Cisco Systems from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Jefferies Financial Group raised their price target on Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Piper Sandler raised their price target on Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.43.

Cisco Systems 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.