AMG National Trust Bank trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 22.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,289 shares of the network equipment provider's stock after selling 14,577 shares during the quarter. AMG National Trust Bank's holdings in Cisco Systems were worth $2,623,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock worth $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI raised its position in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock worth $12,573,000 after acquiring an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock valued at $88,261,000 after acquiring an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. grew its position in shares of Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider's stock valued at $33,830,000 after acquiring an additional 92,179 shares during the period. Finally, IRON Financial LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $856,000. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Price Performance
Shares of NASDAQ:CSCO opened at $57.31 on Tuesday. The company's fifty day moving average price is $54.35 and its 200-day moving average price is $49.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market capitalization of $228.71 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 4.67 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm's revenue was down 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio is currently 68.67%.
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 6.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,615 shares of company stock worth $682,681 over the last ninety days. Insiders own 0.01% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Cisco Systems from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. UBS Group upped their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Barclays lifted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Bank of America upped their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $59.94.
Check Out Our Latest Stock Report on CSCO
Cisco Systems Profile
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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.
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