Coastline Trust Co Sells 8,849 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Coastline Trust Co cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,021 shares of the network equipment provider’s stock after selling 8,849 shares during the quarter. Coastline Trust Co’s holdings in Cisco Systems were worth $3,993,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CSCO. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter valued at approximately $25,000. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Quarry LP raised its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Citigroup raised their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.42.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the 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 sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock valued at $1,798,131 over the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 0.8 %

NASDAQ CSCO opened at $57.46 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The business’s fifty day moving average is $54.18 and its 200 day moving average is $49.76. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.