First National Bank of Mount Dora Trust Investment Services Sells 550 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First National Bank of Mount Dora Trust Investment Services lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,642 shares of the network equipment provider’s stock after selling 550 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Cisco Systems were worth $225,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $3,297,905,000. Northern Trust Corp boosted its holdings in shares of Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock worth $2,159,099,000 after acquiring an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cisco Systems by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after acquiring an additional 681,555 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.2%

Shares of NASDAQ:CSCO opened at $65.90 on Tuesday. The company has a fifty day moving average of $59.69 and a 200-day moving average of $60.43. The company has a market capitalization of $260.96 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,400 shares of company stock worth $4,564,439. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CSCO shares. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reiterated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

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.