Oakwood Capital Management LLC CA trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,332 shares of the network equipment provider’s stock after selling 3,861 shares during the quarter. Cisco Systems makes up approximately 2.8% of Oakwood Capital Management LLC CA’s holdings, making the stock its 11th largest position. Oakwood Capital Management LLC CA’s holdings in Cisco Systems were worth $6,684,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Knights of Columbus Asset Advisors LLC grew its stake in Cisco Systems by 47.1% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after buying an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. bought a new position in Cisco Systems during the 1st quarter worth $5,331,000. Winfield Associates Inc. grew its stake in Cisco Systems by 121.0% during the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after buying an additional 2,557 shares during the last quarter. United Capital Financial Advisers LLC grew its stake in Cisco Systems by 2.8% during the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock worth $89,158,000 after buying an additional 56,027 shares during the last quarter. Finally, KBC Group NV grew its stake in Cisco Systems by 29.6% during the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after buying an additional 478,673 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.
Shares of Cisco Systems stock opened at $44.58 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $213.18 billion, a PE ratio of 19.05, a PEG ratio of 2.59 and a beta of 1.07. Cisco Systems, Inc. has a fifty-two week low of $33.67 and a fifty-two week high of $49.47.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.96%. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.
A number of brokerages recently commented on CSCO. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, October 3rd. Piper Jaffray Companies set a $53.00 price target on Cisco Systems and gave the stock an “overweight” rating in a research report on Monday, October 1st. UBS Group set a $56.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Morgan Stanley boosted their price target on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 4th. Finally, BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Eight research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $48.76.
In other news, EVP David Goeckeler sold 63,050 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $47.57, for a total value of $2,999,288.50. Following the completion of the sale, the executive vice president now owns 547,019 shares in the company, valued at $26,021,693.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $1,502,942.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 450,620 shares of company stock valued at $21,322,282. Insiders own 0.03% of the company’s stock.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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