Private Trust Co. NA Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Private Trust Co. NA lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,121 shares of the network equipment provider’s stock after selling 6,218 shares during the quarter. Private Trust Co. NA’s holdings in Cisco Systems were worth $3,250,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems during the fourth quarter worth about $32,000. Delos Wealth Advisors LLC increased its stake in shares of Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC grew its position in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.7 %

Shares of NASDAQ:CSCO traded down $0.83 during trading on Thursday, reaching $46.60. The stock had a trading volume of 18,821,915 shares, compared to its average volume of 19,432,281. The stock has a market cap of $188.69 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 2.73 and a beta of 0.87. Cisco Systems, Inc. has a 52 week low of $46.20 and a 52 week high of $58.19. The firm’s fifty day moving average is $48.45 and its 200 day moving average is $49.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Oppenheimer lifted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.47.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,457 shares of company stock valued at $1,358,772. 0.02% of the stock is currently owned by corporate insiders.

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.