Pin Oak Investment Advisors Inc. Grows Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Pin Oak Investment Advisors Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,725 shares of the network equipment provider’s stock after buying an additional 610 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Cisco Systems were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Navigoe LLC acquired a new position in Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the period. Fairway Wealth LLC boosted its stake in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 400 shares during the period. Finally, Accredited Wealth Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $37,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.6%

NASDAQ:CSCO opened at $68.69 on Monday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The company has a market capitalization of $272.01 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $66.43 and a 200-day simple moving average of $62.46.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insiders Place Their Bets

In related news, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president owned 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating for the company. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.35.

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.