Cisco Systems, Inc. (NASDAQ:CSCO) Stake Boosted by Oakworth Capital Inc.

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Oakworth Capital Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,076 shares of the network equipment provider’s stock after purchasing an additional 1,061 shares during the quarter. Oakworth Capital Inc.’s holdings in Cisco Systems were worth $1,537,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $38,000. Personal Wealth Partners acquired a new position in shares of Cisco Systems during the second quarter worth approximately $44,000. Ashburton Jersey Ltd acquired a new position in shares of Cisco Systems during the second quarter worth approximately $49,000. Finally, Lucia Wealth Services LLC boosted its position in shares of Cisco Systems by 72.3% during the second quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock worth $63,000 after buying an additional 480 shares during the period. 73.73% of the stock is owned by institutional investors.

Shares of NASDAQ:CSCO opened at $47.91 on Friday. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The stock has a fifty day moving average of $54.34 and a 200-day moving average of $53.77. The company has a market capitalization of $205.18 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.92%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

In other news, EVP Mark D. Chandler sold 546 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven M. West sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The disclosure for this sale can be found here. Insiders have sold a total of 91,925 shares of company stock valued at $4,976,706 in the last quarter. Insiders own 0.03% of the company’s stock.

A number of equities research analysts have weighed in on the company. Citigroup cut their target price on Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Nomura upped their target price on Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. William Blair downgraded Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 target price for the company. in a research report on Wednesday, June 12th. UBS Group set a $58.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $56.59.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Read More: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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