First National Trust Co Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

First National Trust Co decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,235 shares of the network equipment provider’s stock after selling 2,018 shares during the quarter. First National Trust Co’s holdings in Cisco Systems were worth $16,564,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. increased its holdings in Cisco Systems by 1.9% in the third quarter. Harbour Investments Inc. now owns 47,985 shares of the network equipment provider’s stock valued at $2,554,000 after buying an additional 875 shares in the last quarter. Investment Management Associates Inc. ADV acquired a new stake in Cisco Systems in the third quarter valued at $213,000. Fountainhead AM LLC increased its position in shares of Cisco Systems by 6.3% in the third quarter. Fountainhead AM LLC now owns 21,976 shares of the network equipment provider’s stock valued at $1,170,000 after buying an additional 1,301 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Cisco Systems by 406.9% during the 3rd quarter. WCM Investment Management LLC now owns 34,842 shares of the network equipment provider’s stock worth $1,847,000 after buying an additional 27,969 shares during the last quarter. Finally, Lynx Investment Advisory boosted its position in shares of Cisco Systems by 5.6% in the 3rd quarter. Lynx Investment Advisory now owns 4,419 shares of the network equipment provider’s stock worth $235,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $58.63 on Tuesday. The company has a 50 day moving average of $53.30 and a two-hundred day moving average of $49.42. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $233.98 billion, a P/E ratio of 23.08, a P/E/G ratio of 4.81 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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 company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a report on Monday. Barclays cut their price objective on 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. Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.32.

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.