Charter Oak Capital Management LLC Sells 348 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Charter Oak Capital Management LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,007 shares of the network equipment provider’s stock after selling 348 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Cisco Systems were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSCO. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of Cisco Systems by 0.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after acquiring an additional 1,520 shares during the period. Marcum Wealth LLC lifted its position in shares of Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after acquiring an additional 943 shares during the period. Evolution Advisers Inc. lifted its holdings in shares of Cisco Systems by 156.4% during the 4th quarter. Evolution Advisers Inc. now owns 1,428 shares of the network equipment provider’s stock worth $72,000 after acquiring an additional 871 shares during the period. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. grew its position in Cisco Systems by 1,161.9% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,008,782 shares of the network equipment provider’s stock valued at $50,964,000 after acquiring an additional 928,841 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ CSCO traded up $0.52 during trading hours on Friday, hitting $50.74. The company’s stock had a trading volume of 12,506,162 shares, compared to its average volume of 19,887,607. The stock has a market cap of $204.42 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.19. The business has a 50-day simple moving average of $47.20 and a 200-day simple moving average of $47.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold 98,274 shares of company stock worth $4,764,829 over the last quarter. 0.02% of the stock is currently owned by 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.