West Oak Capital LLC Has $1.74 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

West Oak Capital LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,230 shares of the network equipment provider’s stock after selling 1,005 shares during the quarter. West Oak Capital LLC’s holdings in Cisco Systems were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,573 shares of company stock valued at $4,392,619. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Stock Down 1.5%

CSCO stock opened at $64.19 on Thursday. The stock has a 50-day simple moving average of $60.04 and a two-hundred day simple moving average of $60.49. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The firm has a market capitalization of $254.19 billion, a PE ratio of 28.03, a PEG ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.55%. Cisco Systems’s payout ratio is currently 66.94%.

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.