Godsey & Gibb Inc. Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Godsey & Gibb Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% during the first quarter, HoldingsChannel reports. The firm owned 6,087 shares of the network equipment provider’s stock after selling 187 shares during the period. Godsey & Gibb Inc.’s holdings in Cisco Systems were worth $376,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its position in Cisco Systems by 20.8% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in Cisco Systems during the fourth quarter valued at about $3,297,905,000. Northern Trust Corp raised its position in Cisco Systems by 11.4% during the fourth 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cisco Systems by 7.8% in the fourth 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 worth $2,159,099,000 after buying an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after buying an additional 681,555 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 29,784 shares of the 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 transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,400 shares of company stock worth $4,564,439. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 2.2%

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 business’s 50 day moving average price is $59.61 and its two-hundred day moving average price is $60.34. 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 company has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

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

Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date 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 66.94%.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Company 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.