TigerOak Management L.L.C. Acquires Shares of 3,669 Cisco Systems, Inc. (NASDAQ:CSCO)

TigerOak Management L.L.C. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, HoldingsChannel reports. The firm acquired 3,669 shares of the network equipment provider’s stock, valued at approximately $217,000.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC increased its stake in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. FMR LLC increased its stake in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,239 shares of company stock valued at $2,166,612. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group boosted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Barclays boosted their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $80.00 in a report on Thursday. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Stock Performance

Shares of CSCO opened at $64.87 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market capitalization of $258.36 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. The company’s 50 day simple moving average is $60.07 and its 200 day simple moving average is $55.54. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.53%. Cisco Systems’s dividend payout ratio is 68.67%.

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.