Trust Co. of Oklahoma Acquires 224 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Trust Co. of Oklahoma lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,094 shares of the network equipment provider’s stock after acquiring an additional 224 shares during the quarter. Trust Co. of Oklahoma’s holdings in Cisco Systems were worth $242,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. West Financial Advisors LLC lifted its position 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. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Quarry LP increased its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the third quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $61.63 on Thursday. The company has a market capitalization of $245.46 billion, a PE ratio of 26.45, a P/E/G ratio of 4.54 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $59.04 and a two-hundred day moving average price of $53.86. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $61.76.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the company earned $0.98 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of analyst reports. Piper Sandler increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Barclays raised their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

About Cisco Systems

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.