Oarsman Capital Inc. Cuts Holdings in Cisco Systems, Inc. (CSCO)

Oarsman Capital Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 90,957 shares of the network equipment provider’s stock after selling 8,667 shares during the quarter. Cisco Systems comprises about 1.8% of Oarsman Capital Inc.’s investment portfolio, making the stock its 12th largest position. Oarsman Capital Inc.’s holdings in Cisco Systems were worth $3,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FCG Advisors LLC grew its holdings in Cisco Systems by 7.9% in the 1st quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock worth $668,000 after buying an additional 1,140 shares in the last quarter. Forbes J M & Co. LLP grew its holdings in Cisco Systems by 0.5% in the 2nd quarter. Forbes J M & Co. LLP now owns 217,760 shares of the network equipment provider’s stock worth $9,370,000 after buying an additional 1,163 shares in the last quarter. Neumann Capital Management LLC grew its holdings in Cisco Systems by 6.8% in the 1st quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock worth $791,000 after buying an additional 1,167 shares in the last quarter. Ballast Inc. grew its holdings in Cisco Systems by 6.6% in the 1st quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock worth $807,000 after buying an additional 1,172 shares in the last quarter. Finally, Peachtree Investment Advisors Inc. grew its holdings in Cisco Systems by 2.7% in the 2nd quarter. Peachtree Investment Advisors Inc. now owns 44,093 shares of the network equipment provider’s stock worth $1,897,000 after buying an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 70.28% of the company’s stock.

A number of equities analysts recently issued reports on CSCO shares. Piper Jaffray Companies set a $50.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Tuesday, September 11th. JPMorgan Chase & Co. set a $59.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Thursday, August 16th. Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 price target on shares of Cisco Systems in a research note on Thursday, August 16th. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Finally, UBS Group set a $56.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, September 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus target price of $49.49.

CSCO opened at $44.89 on Friday. The firm has a market cap of $216.26 billion, a PE ratio of 19.18, a P/E/G ratio of 2.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. Cisco Systems, Inc. has a fifty-two week low of $36.32 and a fifty-two week high of $49.47.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Thursday, October 4th. Cisco Systems’s dividend payout ratio is presently 56.41%.

In other news, EVP Mark D. Chandler sold 31,842 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles Robbins sold 217,420 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 450,620 shares of company stock valued at $21,322,282. Corporate insiders own 0.03% of the company’s stock.

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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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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