Pioneer Trust Bank N A OR Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Pioneer Trust Bank N A OR cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,095 shares of the network equipment provider’s stock after selling 709 shares during the quarter. Cisco Systems accounts for approximately 1.7% of Pioneer Trust Bank N A OR’s holdings, making the stock its 22nd biggest holding. Pioneer Trust Bank N A OR’s holdings in Cisco Systems were worth $6,873,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Pflug Koory LLC boosted its holdings in Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after acquiring an additional 165 shares during the period. Fairhaven Wealth Management LLC lifted its position in shares of Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its stake in shares of Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares during the period. Maple Capital Management Inc. increased its stake in Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after buying an additional 170 shares during the period. Finally, Pathway Financial Advisors LLC lifted its holdings in Cisco Systems by 3.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after buying an additional 172 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 over the last 90 days. 0.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Price Performance

Cisco Systems stock opened at $54.54 on Friday. The company has a fifty day simple moving average of $61.91 and a 200-day simple moving average of $58.81. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $216.98 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is 71.62%.

About Cisco Systems

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.