Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Oppenheimer Asset Management Inc.

by · The Cerbat Gem

Oppenheimer Asset Management Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 8.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 731,513 shares of the network equipment provider’s stock after selling 67,617 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cisco Systems were worth $45,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC increased its holdings in Cisco Systems by 160.4% in the 4th 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 in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems in the 4th quarter valued at about $30,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business’s 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. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer now directly owns 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 0.7%

Shares of Cisco Systems stock opened at $66.32 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.65. The stock has a 50-day moving average price of $61.38 and a 200 day moving average price of $60.80. The company has a market cap of $262.63 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.97 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.47%. Cisco Systems’s payout ratio is currently 66.94%.

Analyst Ratings Changes

CSCO has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Evercore ISI upped their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, New Street Research reissued a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

View Our Latest Stock Analysis on Cisco Systems

Cisco Systems Profile

(Free Report)

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.

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