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Cisco Systems, Inc. $CSCO Shares Sold by Oppenheimer Asset Management Inc.

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Oppenheimer Asset Management Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 680,608 shares of the network equipment provider's stock after selling 30,998 shares during the period. Cisco Systems makes up approximately 0.6% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 29th largest position. Oppenheimer Asset Management Inc.'s holdings in Cisco Systems were worth $52,427,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CSCO. Marquette Asset Management LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $25,000. Board of the Pension Protection Fund acquired a new stake in Cisco Systems in the fourth quarter valued at about $31,000. Cedar Mountain Advisors LLC lifted its position in Cisco Systems by 115.7% in the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock valued at $32,000 after purchasing an additional 251 shares during the period. Joseph Group Capital Management acquired a new stake in Cisco Systems in the fourth quarter valued at $38,000. Finally, Holos Integrated Wealth LLC acquired a new stake in Cisco Systems in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Up 2.2%

Cisco Systems stock opened at $91.50 on Friday. The stock has a market cap of $361.41 billion, a PE ratio of 32.11, a P/E/G ratio of 3.38 and a beta of 0.83. The stock has a 50-day moving average price of $81.46 and a 200 day moving average price of $77.93. Cisco Systems, Inc. has a 52 week low of $57.68 and a 52 week high of $91.67. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion during the quarter, compared to analysts' expectations of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, April 2nd. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. Cisco Systems's dividend payout ratio is presently 58.95%.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 19,545 shares of the business's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company's stock, valued at $51,003,220. The trade was a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the sale, the executive vice president owned 187,097 shares of the company's stock, valued at $14,874,211.50. The trade was a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,431 shares of company stock worth $3,574,820 over the last ninety days. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Argus raised Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Truist Financial assumed coverage on Cisco Systems in a research note on Tuesday, March 31st. They set a "buy" rating and a $94.00 price target for the company. BNP Paribas Exane lifted their price target on Cisco Systems from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. HSBC lifted their price target on Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a research note on Friday, February 13th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of Cisco Systems in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $89.81.

Read Our Latest Research Report on Cisco Systems

Key Cisco Systems News

Here are the key news stories impacting Cisco Systems this week:

About Cisco Systems

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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