American Trust Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

American Trust reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,374 shares of the network equipment provider’s stock after selling 480 shares during the period. American Trust’s holdings in Cisco Systems were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cisco Systems by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock valued at $3,417,011,000 after purchasing an additional 2,386,508 shares in the last quarter. Norges Bank acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $2,528,939,000. Wellington Management Group LLP grew its holdings in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after purchasing an additional 2,723,260 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 1.5 %

Shares of CSCO traded down $0.73 during mid-day trading on Friday, hitting $46.66. The company had a trading volume of 24,000,150 shares, compared to its average volume of 18,794,710. The business’s 50-day simple moving average is $46.81 and its 200-day simple moving average is $48.27. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The stock has a market cap of $187.98 billion, a PE ratio of 15.71, a P/E/G ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were paid a $0.40 dividend. The ex-dividend date was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.43%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,106 shares of company stock worth $1,908,923. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CSCO. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.47.

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.