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

Occidental Asset Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,492 shares of the network equipment provider’s stock after selling 595 shares during the period. Occidental Asset Management LLC’s holdings in Cisco Systems were worth $1,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cisco Systems in the third quarter worth $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems during the fourth quarter valued at $32,000. Fortis Capital Advisors LLC bought a new stake in Cisco Systems during the fourth quarter valued at $34,000. Hibernia Wealth Partners LLC bought a new stake in Cisco Systems during the third quarter valued at $42,000. Finally, VitalStone Financial LLC bought a new stake in Cisco Systems during the second quarter valued at $45,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO stock traded up $0.14 during midday trading on Friday, hitting $49.91. The stock had a trading volume of 18,139,735 shares, compared to its average volume of 20,822,376. The firm has a market capitalization of $202.10 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 2.25 and a beta of 0.87. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The stock has a 50-day simple moving average of $49.75 and a 200 day simple moving average of $50.92. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same period in the previous year, the firm earned $0.76 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.21%. Cisco Systems’s dividend payout ratio is presently 47.42%.

Analysts Set New Price Targets

Several analysts have weighed in on CSCO shares. Piper Sandler boosted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Barclays boosted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. UBS Group boosted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Melius Research reissued a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.42.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

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.