Commerce Bank Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Commerce Bank lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 790,611 shares of the network equipment provider’s stock after selling 31,364 shares during the period. Commerce Bank’s holdings in Cisco Systems were worth $42,076,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Prospera Private Wealth LLC acquired a new stake in Cisco Systems during the 3rd quarter valued at approximately $1,529,000. West Family Investments Inc. lifted its stake in shares of Cisco Systems by 1.8% in the 3rd quarter. West Family Investments Inc. now owns 24,372 shares of the network equipment provider’s stock valued at $1,297,000 after purchasing an additional 428 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $38,033,000. Banque Cantonale Vaudoise lifted its stake in shares of Cisco Systems by 13.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 375,894 shares of the network equipment provider’s stock valued at $20,004,000 after purchasing an additional 44,766 shares during the period. Finally, Wrapmanager Inc. lifted its stake in shares of Cisco Systems by 26.8% in the 3rd quarter. Wrapmanager Inc. now owns 30,868 shares of the network equipment provider’s stock valued at $1,643,000 after purchasing an additional 6,526 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, the executive vice president now directly owns 219,100 shares of the company’s stock, valued at $12,596,059. This trade represents a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,628 shares of company stock valued at $18,449,561. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 0.5 %

Shares of CSCO opened at $57.01 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The firm has a 50-day moving average price of $54.52 and a 200 day moving average price of $49.95. The firm has a market capitalization of $227.51 billion, a P/E ratio of 24.47, a P/E/G ratio of 4.67 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. UBS Group boosted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.94.

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.