Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by AMG National Trust Bank

AMG National Trust Bank decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 139,075 shares of the network equipment provider’s stock after selling 3,574 shares during the quarter. AMG National Trust Bank’s holdings in Cisco Systems were worth $7,026,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. lifted its holdings in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. FMR LLC lifted its holdings in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the period. Northern Trust Corp lifted its holdings in Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the last quarter. Invesco Ltd. lifted its holdings in Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after acquiring an additional 1,181,327 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after acquiring an additional 3,753,165 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.4 %

NASDAQ:CSCO traded down $0.17 during mid-day trading on Friday, reaching $48.17. The stock had a trading volume of 22,020,305 shares, compared to its average volume of 18,663,308. The business’s 50 day moving average is $48.69 and its 200 day moving average is $49.51. Cisco Systems, Inc. has a fifty-two week low of $45.70 and a fifty-two week high of $58.19. The stock has a market cap of $195.05 billion, a P/E ratio of 16.22, a PEG ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. Cisco Systems’s payout ratio is currently 53.87%.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSCO has been the subject of a number of research analyst reports. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday. Morgan Stanley initiated coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Finally, Barclays boosted their price objective on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.47.

Check Out Our Latest Stock Analysis on Cisco Systems

Cisco Systems Company Profile

(Free Report)

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.

See Also

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

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