Oppenheimer Asset Management Inc. Sells 67,617 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Oppenheimer Asset Management Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 731,513 shares of the network equipment provider's stock after selling 67,617 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Cisco Systems were worth $45,142,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in Cisco Systems in the fourth quarter valued at $603,000. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after acquiring an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after acquiring an additional 2,474 shares during the last quarter. Navellier & Associates Inc. lifted its stake in Cisco Systems by 33.1% in the fourth quarter. Navellier & Associates Inc. now owns 8,100 shares of the network equipment provider's stock valued at $480,000 after acquiring an additional 2,014 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in Cisco Systems by 0.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 104,581 shares of the network equipment provider's stock valued at $6,145,000 after acquiring an additional 345 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

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 shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, 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 can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president now owns 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.51 on Tuesday, reaching $67.89. 23,159,613 shares of the company traded hands, compared to its average volume of 20,168,135. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $68.02. The company has a 50 day moving average of $61.80 and a 200 day moving average of $60.90. The firm has a market capitalization of $268.84 billion, a PE ratio of 27.71, a PEG ratio of 4.03 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm earned $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Analyst Ratings Changes

A number of equities analysts recently commented on CSCO shares. 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. Citigroup raised their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.11.

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.