Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Lowered by First National Trust Co

First National Trust Co cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 311,235 shares of the network equipment provider’s stock after selling 2,018 shares during the quarter. First National Trust Co’s holdings in Cisco Systems were worth $16,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Investments Inc. raised its stake in Cisco Systems by 1.9% during the 3rd quarter. Harbour Investments Inc. now owns 47,985 shares of the network equipment provider’s stock valued at $2,554,000 after acquiring an additional 875 shares in the last quarter. Investment Management Associates Inc. ADV bought a new position in shares of Cisco Systems in the third quarter worth $213,000. Fountainhead AM LLC increased its holdings in shares of Cisco Systems by 6.3% during the third quarter. Fountainhead AM LLC now owns 21,976 shares of the network equipment provider’s stock valued at $1,170,000 after purchasing an additional 1,301 shares during the period. WCM Investment Management LLC raised its stake in shares of Cisco Systems by 406.9% during the third quarter. WCM Investment Management LLC now owns 34,842 shares of the network equipment provider’s stock valued at $1,847,000 after purchasing an additional 27,969 shares in the last quarter. Finally, Lynx Investment Advisory lifted its holdings in Cisco Systems by 5.6% in the third quarter. Lynx Investment Advisory now owns 4,419 shares of the network equipment provider’s stock worth $235,000 after purchasing an additional 236 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO stock opened at $58.63 on Tuesday. The company has a market capitalization of $233.98 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 4.81 and a beta of 0.83. The firm has a 50 day moving average of $53.30 and a two-hundred day moving average of $49.42. The company has a quick ratio of 0.83, a current ratio of 0.91 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.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the 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 completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $66.00 in a research note on Monday. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.32.

Cisco Systems 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.