STAR Financial Bank Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

STAR Financial Bank trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,433 shares of the network equipment provider’s stock after selling 250 shares during the quarter. STAR Financial Bank’s holdings in Cisco Systems were worth $521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems during the 4th quarter worth $32,000. Delos Wealth Advisors LLC boosted its position in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems in the fourth quarter valued at about $33,000. Morton Brown Family Wealth LLC lifted its position in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC lifted its position in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.47 during midday trading on Wednesday, hitting $46.27. 18,731,715 shares of the company were exchanged, compared to its average volume of 19,588,938. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The firm has a market cap of $186.41 billion, a P/E ratio of 15.58, a PEG ratio of 2.67 and a beta of 0.85. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The firm has a 50 day simple moving average of $46.89 and a 200-day simple moving average of $48.61.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.46%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity

In related news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Citigroup initiated coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. Oppenheimer increased their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Morgan Stanley initiated coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.47.

Check Out Our Latest Research Report on CSCO

About Cisco Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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