CENTRAL TRUST Co Sells 16,836 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

CENTRAL TRUST Co lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,978 shares of the network equipment provider's stock after selling 16,836 shares during the period. CENTRAL TRUST Co's holdings in Cisco Systems were worth $5,693,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth approximately $25,000. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Retirement Group LLC increased its position in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter worth $36,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSCO shares. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, August 15th. Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.74.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.32 during trading hours on Thursday, reaching $55.96. The stock had a trading volume of 14,698,335 shares, compared to its average volume of 19,112,482. The firm has a market capitalization of $225.45 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a 50-day simple moving average of $51.85 and a 200-day simple moving average of $48.77. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts' expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems's quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. Cisco Systems's dividend payout ratio (DPR) is 53.87%.

Cisco Systems Company 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.