Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Keybank National Association OH

Keybank National Association OH decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,790,535 shares of the network equipment provider's stock after selling 14,928 shares during the period. Keybank National Association OH's holdings in Cisco Systems were worth $106,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth about $26,000. Highline Wealth Partners LLC lifted its position in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after acquiring an additional 260 shares during the period. Synergy Investment Management LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $36,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares of the company's stock, valued at $12,886,294.67. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,848 shares of company stock worth $4,767,206 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO traded up $0.70 during mid-day trading on Wednesday, reaching $63.96. 14,499,166 shares of the company's stock were exchanged, compared to its average volume of 19,806,365. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market cap of $254.45 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 4.16 and a beta of 0.84. The company has a 50-day simple moving average of $61.39 and a two-hundred day simple moving average of $57.16.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, April 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Melius Research upgraded shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on Cisco Systems from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.63.

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 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.