Arbor Trust Wealth Advisors LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Arbor Trust Wealth Advisors LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.9% in the fourth quarter, Holdings Channel reports. The fund owned 12,505 shares of the network equipment provider’s stock after selling 3,500 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Cisco Systems were worth $632,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. United Bank purchased a new stake in shares of Cisco Systems during the 1st quarter worth approximately $645,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after buying an additional 1,040,607 shares during the last quarter. Roundview Capital LLC lifted its position in shares of Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after buying an additional 1,221 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Cisco Systems by 21.5% in the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Cisco Systems by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after acquiring an additional 182,857 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSCO shares. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Wells Fargo & Company started coverage on shares of Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price on the stock. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Citigroup assumed coverage on shares of Cisco Systems in a research note on Friday. They issued a “neutral” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $56.03.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.32 on Tuesday, reaching $47.92. 14,229,345 shares of the company were exchanged, compared to its average volume of 19,646,592. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The firm has a market cap of $194.04 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The company has a 50-day moving average of $49.22 and a 200-day moving average of $50.37.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the prior year, the company posted $0.76 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. Cisco Systems’s payout ratio is currently 48.63%.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last three months. Corporate insiders own 0.02% of the company’s stock.

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.