Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Argent Trust Co

Argent Trust Co reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 251,935 shares of the network equipment provider’s stock after selling 747 shares during the quarter. Cisco Systems comprises about 0.9% of Argent Trust Co’s holdings, making the stock its 27th largest position. Argent Trust Co’s holdings in Cisco Systems were worth $13,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Norges Bank acquired a new position in Cisco Systems in the 4th quarter valued at $2,026,921,000. Dodge & Cox increased its stake in Cisco Systems by 27.3% in the 4th quarter. Dodge & Cox now owns 38,592,574 shares of the network equipment provider’s stock valued at $1,727,018,000 after buying an additional 8,276,836 shares during the period. BlackRock Inc. grew its stake in shares of Cisco Systems by 2.2% during the 1st quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider’s stock worth $17,321,808,000 after purchasing an additional 7,282,145 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Cisco Systems by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,461,276 shares of the network equipment provider’s stock worth $1,721,142,000 after purchasing an additional 3,778,044 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Cisco Systems by 55,150.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,708,433 shares of the network equipment provider’s stock worth $165,952,000 after purchasing an additional 3,701,721 shares during the period. 72.16% of the stock is currently owned by institutional investors.

CSCO has been the topic of a number of recent analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Cisco Systems in a research note on Thursday, April 29th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Thursday, March 11th. DZ Bank reaffirmed a “hold” rating and set a $51.00 price target on shares of Cisco Systems in a research note on Thursday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Cisco Systems in a research note on Tuesday, April 20th. They set a “hold” rating and a $55.00 price target on the stock. Finally, Robert W. Baird reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, May 11th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $51.85.

In other news, CEO Charles Robbins sold 7,584 shares of the stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $53.11, for a total transaction of $402,786.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 3,829 shares of the stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $53.50, for a total transaction of $204,851.50. Following the sale, the senior vice president now directly owns 106,222 shares of the company’s stock, valued at approximately $5,682,877. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,395 shares of company stock worth $1,970,410. Insiders own 0.02% of the company’s stock.

NASDAQ:CSCO traded down $0.32 on Friday, reaching $54.71. The stock had a trading volume of 452,935 shares, compared to its average volume of 21,115,367. The stock has a market cap of $230.56 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.91. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $52.43. Cisco Systems, Inc. has a 12-month low of $35.28 and a 12-month high of $55.08.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a net margin of 20.92% and a return on equity of 31.12%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, July 2nd. This represents a $1.48 annualized dividend and a dividend yield of 2.71%. Cisco Systems’s payout ratio is currently 50.68%.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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