FineMark National Bank & Trust Has $15.58 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

FineMark National Bank & Trust lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 308,467 shares of the network equipment provider’s stock after selling 40,919 shares during the period. FineMark National Bank & Trust’s holdings in Cisco Systems were worth $15,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealthspire Advisors LLC grew its holdings in shares of Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares during the last quarter. Roble Belko & Company Inc grew its holdings in shares of Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after buying an additional 2,788 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Cisco Systems in the fourth quarter valued at about $28,685,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

CSCO traded down $0.86 during trading on Thursday, hitting $46.57. 10,513,847 shares of the company traded hands, compared to its average volume of 19,341,912. The company has a market cap of $188.57 billion, a PE ratio of 15.81, a P/E/G ratio of 2.73 and a beta of 0.87. The stock’s 50-day simple moving average is $48.51 and its two-hundred day simple moving average is $49.39. Cisco Systems, Inc. has a 1 year low of $46.20 and a 1 year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued 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. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the company posted $0.88 EPS. The business’s revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.44%. Cisco Systems’s payout ratio is currently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 27,457 shares of company stock valued at $1,358,772 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research analyst reports. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, May 16th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday, May 13th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. Finally, Wells Fargo & Company upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.47.

About Cisco Systems

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.