Oakworth Capital Inc. Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Oakworth Capital Inc. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,233 shares of the network equipment provider’s stock after acquiring an additional 561 shares during the period. Oakworth Capital Inc.’s holdings in Cisco Systems were worth $1,578,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its holdings in Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the period. Norges Bank bought a new stake in Cisco Systems during the fourth quarter valued at about $2,028,781,000. Morgan Stanley grew its holdings in Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the period. Barclays PLC grew its holdings in Cisco Systems by 83.6% during the second quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock valued at $752,554,000 after purchasing an additional 6,621,125 shares during the period. Finally, State Street Corp grew its holdings in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after purchasing an additional 4,061,022 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Melius Research restated a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Morgan Stanley began coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $60.00 in a research report on Monday. Finally, Citigroup assumed coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.03.

Cisco Systems Trading Down 0.0 %

NASDAQ:CSCO traded down $0.02 during midday trading on Wednesday, hitting $47.90. The stock had a trading volume of 7,838,110 shares, compared to its average volume of 19,485,229. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a market capitalization of $193.96 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.73 and a beta of 0.87. The stock has a 50-day moving average of $49.18 and a 200 day moving average of $50.32. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.19 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate insiders.

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 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.