Coastline Trust Co Has $3.99 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Coastline Trust Co cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,021 shares of the network equipment provider’s stock after selling 8,849 shares during the quarter. Coastline Trust Co’s holdings in Cisco Systems were worth $3,993,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. Legal & General Group Plc boosted its stake in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares during the period. Swedbank AB acquired a new position in shares of Cisco Systems in the 1st quarter valued at $840,538,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI upped their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.42.

Cisco Systems Stock Down 0.8 %

Shares of Cisco Systems stock opened at $57.46 on Friday. The business has a fifty day simple moving average of $54.18 and a 200 day simple moving average of $49.76. The stock has a market cap of $229.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at $14,659,200. This represents a 7.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on 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 directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,924 shares of company stock worth $1,798,131 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

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.