Central Bank & Trust Co. Has $1.83 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Central Bank & Trust Co. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,305 shares of the network equipment provider’s stock after selling 257 shares during the quarter. Central Bank & Trust Co.’s holdings in Cisco Systems were worth $1,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after buying an additional 1,853,598 shares in the last quarter. Legal & General Group Plc lifted its stake in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Swedbank AB acquired a new position in Cisco Systems during the first quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after buying an additional 2,906,357 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CSCO shares. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Barclays dropped their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $56.74.

Cisco Systems Price Performance

Cisco Systems stock opened at $55.83 on Tuesday. The stock’s 50 day moving average is $52.73 and its 200 day moving average is $49.16. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06. The firm has a market cap of $222.80 billion, a P/E ratio of 21.98, a P/E/G ratio of 4.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

About Cisco Systems

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.