Cisco Systems, Inc. (NASDAQ:CSCO) Position Trimmed by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 759,477 shares of the network equipment provider’s stock after selling 11,388 shares during the quarter. Cisco Systems makes up approximately 1.3% of First Horizon Advisors Inc.’s portfolio, making the stock its 10th largest holding. First Horizon Advisors Inc.’s holdings in Cisco Systems were worth $38,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System lifted its stake in Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Cisco Systems in the 3rd quarter worth approximately $179,207,000. Capital Wealth Planning LLC lifted its stake in Cisco Systems by 7,074.3% in the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after purchasing an additional 3,226,040 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Cisco Systems by 32.7% in the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after purchasing an additional 1,909,597 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last three months, insiders sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.1 %

Shares of NASDAQ:CSCO traded down $0.04 during trading on Thursday, hitting $46.80. The company’s stock had a trading volume of 6,396,194 shares, compared to its average volume of 19,082,803. The business has a 50 day moving average price of $48.86 and a two-hundred day moving average price of $49.90. The company has a market capitalization of $189.50 billion, a PE ratio of 14.24, a P/E/G ratio of 2.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CSCO shares. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. Finally, Melius Research restated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.53.

About Cisco Systems

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.