BTC Capital Management Inc. Has $10.10 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

BTC Capital Management Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,305 shares of the network equipment provider’s stock after selling 2,707 shares during the period. Cisco Systems accounts for approximately 1.1% of BTC Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. BTC Capital Management Inc.’s holdings in Cisco Systems were worth $10,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC boosted its position in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after acquiring an additional 59,466,550 shares during the period. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $2,028,781,000. FMR LLC boosted its position in shares of Cisco Systems by 21.4% in the first quarter. FMR LLC now owns 54,468,315 shares of the network equipment provider’s stock valued at $2,847,331,000 after acquiring an additional 9,614,150 shares during the period. Morgan Stanley boosted its position in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after acquiring an additional 9,160,347 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in shares of Cisco Systems by 5,222.3% in the first quarter. Providence Capital Advisors LLC now owns 7,883,401 shares of the network equipment provider’s stock valued at $150,806,000 after acquiring an additional 7,735,281 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CSCO shares. Jefferies Financial Group boosted their target price on shares of Cisco Systems from $54.00 to $59.50 and gave the company a “buy” rating in a research report on Thursday, August 17th. Raymond James boosted their target price on shares of Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Morgan Stanley upped their price objective on shares of Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 17th. Bank of America upped their price objective on shares of Cisco Systems from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. Finally, Barclays upped their price objective on shares of Cisco Systems from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $59.43.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total transaction of $169,896.84. Following the completion of the sale, the executive vice president now owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total transaction of $169,896.84. Following the completion of the sale, the executive vice president now owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $54.65, for a total transaction of $338,064.90. Following the sale, the senior vice president now directly owns 64,493 shares of the company’s stock, valued at approximately $3,524,542.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $56.11 on Tuesday. The business has a 50 day moving average of $54.20 and a 200-day moving average of $51.17. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The company has a market capitalization of $227.52 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.50 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.58 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio is presently 50.81%.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.