Oakworth Capital Inc. Has $1.74 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Oakworth Capital Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,367 shares of the network equipment provider’s stock after selling 1,441 shares during the period. Oakworth Capital Inc.’s holdings in Cisco Systems were worth $1,739,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its stake in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter valued at $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Cisco Systems during the third quarter valued at $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $62.57 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $249.20 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 4.51 and a beta of 0.84. The stock has a 50 day moving average of $59.59 and a 200 day moving average of $54.82. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.71.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the business posted $0.98 earnings per share. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Citigroup lifted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.72.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last three months. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

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.