Central Bank & Trust Co. Has $1.93 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Central Bank & Trust Co. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,303 shares of the network equipment provider’s stock after selling 2,482 shares during the period. Central Bank & Trust Co.’s holdings in Cisco Systems were worth $1,932,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth about $30,000. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,400 shares of company stock valued at $4,564,439. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Up 2.2%

Shares of CSCO stock opened at $66.06 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock’s fifty day moving average is $59.61 and its two-hundred day moving average is $60.36. The firm has a market capitalization of $261.60 billion, a P/E ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.48%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent research reports. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. UBS Group upped their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, New Street Research restated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.