CoreFirst Bank & Trust Has $564,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CoreFirst Bank & Trust decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,142 shares of the network equipment provider’s stock after selling 953 shares during the period. CoreFirst Bank & Trust’s holdings in Cisco Systems were worth $564,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cisco Systems in the 4th quarter worth $3,297,905,000. FMR LLC increased its stake in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $413,491,000. GAMMA Investing LLC raised its stake in shares of Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after purchasing an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock valued at $442,749,000 after acquiring an additional 4,880,747 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president directly owned 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the company’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 value of $952,950.00. Following the completion of the transaction, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.5%

Shares of Cisco Systems stock opened at $69.64 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The firm has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. The company has a 50-day moving average of $63.93 and a 200 day moving average of $61.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

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

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. Cisco Systems’s payout ratio is presently 66.94%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. KeyCorp assumed coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price objective on the stock. New Street Research reiterated a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $69.53.

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.