West Oak Capital LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

West Oak Capital LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,523 shares of the network equipment provider’s stock after selling 5,246 shares during the quarter. West Oak Capital LLC’s holdings in Cisco Systems were worth $1,571,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new stake in Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP increased its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the last quarter. Retirement Group LLC raised its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter worth about $36,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 0.6 %

Shares of NASDAQ:CSCO opened at $56.76 on Friday. The company has a market capitalization of $228.68 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a 50 day moving average of $51.17 and a two-hundred day moving average of $48.60. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays dropped their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group cut their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.74.

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.