TigerOak Management L.L.C. Acquires Shares of 3,669 Cisco Systems, Inc. (NASDAQ:CSCO)

TigerOak Management L.L.C. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,669 shares of the network equipment provider’s stock, valued at approximately $217,000.

A number of other hedge funds also recently bought and sold shares of the business. Congress Asset Management Co. raised its holdings in Cisco Systems by 0.8% in the 4th quarter. Congress Asset Management Co. now owns 256,019 shares of the network equipment provider’s stock valued at $15,156,000 after acquiring an additional 1,992 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in Cisco Systems by 3.2% in the 4th quarter. Lodestone Wealth Management LLC now owns 35,181 shares of the network equipment provider’s stock valued at $2,083,000 after acquiring an additional 1,082 shares during the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Cisco Systems by 8.3% during the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock worth $314,000 after buying an additional 407 shares during the last quarter. BXM Wealth LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $521,000. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Cisco Systems by 1.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 79,843 shares of the network equipment provider’s stock worth $4,727,000 after buying an additional 1,372 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $64.87 on Friday. The stock has a market cap of $258.36 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The company has a fifty day simple moving average of $60.07 and a 200-day simple moving average of $55.54. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler raised their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a report on Thursday. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Insider Transactions at Cisco Systems

In related news, 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 value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,239 shares of company stock valued at $2,166,612. Insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.