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

Pioneer Trust Bank N A OR decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,317 shares of the network equipment provider’s stock after selling 835 shares during the quarter. Cisco Systems makes up 1.7% of Pioneer Trust Bank N A OR’s portfolio, making the stock its 25th biggest holding. Pioneer Trust Bank N A OR’s holdings in Cisco Systems were worth $6,018,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CSCO. Central Bank & Trust Co. increased its stake in Cisco Systems by 1.9% during the 1st quarter. Central Bank & Trust Co. now owns 10,930 shares of the network equipment provider’s stock worth $571,000 after buying an additional 204 shares during the period. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Cisco Systems by 1.6% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 13,648 shares of the network equipment provider’s stock valued at $713,000 after buying an additional 211 shares during the last quarter. Stillwater Investment Management LLC grew its holdings in Cisco Systems by 0.3% during the 1st quarter. Stillwater Investment Management LLC now owns 73,720 shares of the network equipment provider’s stock worth $3,854,000 after acquiring an additional 214 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of Cisco Systems by 0.5% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 40,473 shares of the network equipment provider’s stock valued at $2,116,000 after purchasing an additional 215 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. grew its stake in Cisco Systems by 3.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 6,706 shares of the network equipment provider’s stock worth $319,000 after purchasing an additional 217 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 6,186 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the transaction, the senior vice president now owns 64,493 shares in the company, valued at approximately $3,524,542.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total transaction of $130,626.35. Following the sale, the chief financial officer now owns 281,493 shares of the company’s stock, valued at $14,257,620.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $56.11 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $54.20 and its 200 day moving average price is $51.17. Cisco Systems, Inc. has a 52-week low of $38.60 and a 52-week high of $58.19. The firm has a market cap of $227.52 billion, a P/E ratio of 18.28, a PEG ratio of 2.48 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period last year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BNP Paribas initiated coverage on Cisco Systems in a report on Thursday, July 20th. They set an “underperform” rating and a $45.00 target price on the stock. Rosenblatt Securities raised their price target on shares of Cisco Systems from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Jefferies Financial Group boosted their price objective 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Finally, Citigroup upped their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. One equities 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’s stock. According to MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $59.43.

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 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.