Bell Bank Has $12.69 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bell Bank grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,706 shares of the network equipment provider’s stock after purchasing an additional 3,206 shares during the period. Cisco Systems makes up approximately 0.7% of Bell Bank’s holdings, making the stock its 22nd largest holding. Bell Bank’s holdings in Cisco Systems were worth $12,694,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $3,297,905,000. Northern Trust Corp grew its stake in shares of Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after purchasing an additional 681,555 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSCO. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” 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. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Activity

In related news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 899 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider now directly owns 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock valued at $4,671,930 in the last 90 days. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

CSCO stock opened at $65.51 on Tuesday. The business’s fifty day moving average is $60.72 and its 200-day moving average is $60.62. 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 company has a market cap of $259.42 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

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, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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 paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

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.