Hilltop National Bank Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Hilltop National Bank decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,757 shares of the network equipment provider’s stock after selling 344 shares during the quarter. Hilltop National Bank’s holdings in Cisco Systems were worth $1,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP lifted its position in shares of Cisco Systems by 222.4% in the 2nd 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 period. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the third quarter worth about $40,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Cisco Systems during the 3rd quarter worth approximately $56,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $0.58 during midday trading on Friday, hitting $58.62. 4,044,803 shares of the company’s stock traded hands, compared to its average volume of 14,748,052. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a market capitalization of $233.47 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The firm has a fifty day moving average of $58.60 and a 200 day moving average of $53.02. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSCO shares. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup lifted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.28.

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.