Pioneer Trust Bank N A OR Has $6.02 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Pioneer Trust Bank N A OR decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 116,317 shares of the network equipment provider’s stock after selling 835 shares during the quarter. Cisco Systems accounts for about 1.7% of Pioneer Trust Bank N A OR’s holdings, making the stock its 25th biggest position. Pioneer Trust Bank N A OR’s holdings in Cisco Systems were worth $6,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Bank bought a new position in Cisco Systems during the 1st quarter worth $645,000. Mirae Asset Global Investments Co. Ltd. increased its position in Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares during the period. Roundview Capital LLC raised its stake in Cisco Systems by 13.1% in the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after purchasing an additional 1,221 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Cisco Systems by 21.5% in the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after purchasing an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after purchasing an additional 182,857 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Charles Robbins sold 17,687 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.16, for a total value of $975,614.92. Following the transaction, the chief executive officer now owns 716,191 shares in the company, valued at $39,505,095.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of Cisco Systems stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the sale, the chief executive officer now directly owns 716,191 shares in the company, valued at $39,505,095.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now owns 169,396 shares in the company, valued at $9,523,443.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $56.11 on Tuesday. The stock has a market cap of $227.52 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.48 and a beta of 0.97. Cisco Systems, Inc. has a twelve month low of $38.60 and a twelve month high of $58.19. The company’s fifty day moving average is $54.20 and its 200 day moving average is $51.17. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a $0.39 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is currently 50.81%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSCO. Citigroup increased their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Evercore ISI increased their target price on Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Rosenblatt Securities boosted their price target on Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $62.00 in a research note on Wednesday, July 19th. Finally, Raymond James boosted their target price on shares of Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.43.

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 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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.