Oak Harvest Investment Services Has $16.92 Million Holdings in Cisco Systems, Inc. $CSCO

Key Points

• Oak Harvest Investment Services boosted its position in Cisco by 14.7% in Q4 to 219,601 shares valued at about $16.92 million, making Cisco roughly 0.6% of the fund's holdings and its 10th-largest position.
• Cisco beat the quarter's estimates with $1.04 EPS (vs. $1.02 expected) and $15.35 billion revenue (+9.7% YoY), and raised its quarterly dividend to $0.42 (annual $1.68, ~1.9% yield).
• Insiders sold 46,431 shares worth $3.57 million in the last quarter (insiders now own 0.01%), while institutional investors hold 73.33% of Cisco's stock.

Oak Harvest Investment Services grew its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 219,601 shares of the network equipment provider's stock after purchasing an additional 28,168 shares during the period. Cisco Systems makes up approximately 0.6% of Oak Harvest Investment Services' holdings, making the stock its 10th biggest position. Oak Harvest Investment Services' holdings in Cisco Systems were worth $16,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cisco Systems by 6.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider's stock valued at $218,236,000 after acquiring an additional 205,043 shares in the last quarter. Greystone Financial Group LLC bought a new position in shares of Cisco Systems in the third quarter valued at approximately $8,563,000. Jones Financial Companies Lllp boosted its holdings in shares of Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider's stock valued at $46,165,000 after acquiring an additional 56,057 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Cisco Systems by 213.8% in the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider's stock valued at $1,402,000 after acquiring an additional 13,966 shares in the last quarter. Finally, CX Institutional boosted its holdings in shares of Cisco Systems by 11.0% in the third quarter. CX Institutional now owns 144,336 shares of the network equipment provider's stock valued at $9,875,000 after acquiring an additional 14,334 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 551 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $77.54, for a total value of $42,724.54. Following the completion of the sale, the senior vice president owned 27,957 shares in the company, valued at approximately $2,167,785.78. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total transaction of $634,489.50. Following the completion of the sale, the executive vice president owned 187,097 shares of the company's stock, valued at approximately $14,874,211.50. This trade represents 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 in the last quarter. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 2.1%

Shares of NASDAQ:CSCO opened at $86.25 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The company has a market cap of $340.68 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 3.19 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $53.83 and a 52 week high of $88.18. The firm has a 50 day simple moving average of $79.86 and a 200 day simple moving average of $76.67.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems's payout ratio is currently 58.95%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CSCO. Wall Street Zen cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Erste Group Bank cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday. Evercore upgraded shares of Cisco Systems from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $80.00 to $100.00 in a report on Monday, January 26th. Finally, HSBC raised their target price on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.81.

Cisco Systems Profile

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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