First National Trust Co Sells 30,650 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First National Trust Co reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 328,986 shares of the network equipment provider’s stock after selling 30,650 shares during the quarter. First National Trust Co’s holdings in Cisco Systems were worth $16,620,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CSCO. California Public Employees Retirement System lifted its holdings 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 bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $179,207,000. Capital Wealth Planning LLC raised its holdings in Cisco Systems by 7,074.3% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after buying an additional 3,226,040 shares during the period. Pacer Advisors Inc. boosted its stake in Cisco Systems by 32.7% during the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after buying an additional 1,909,597 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Cisco Systems by 3.8% in 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 acquiring an additional 1,847,682 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’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 transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CSCO. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. 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 objective for the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Performance

CSCO traded up $0.33 during midday trading on Friday, hitting $47.12. 17,935,302 shares of the company were exchanged, compared to its average volume of 17,219,910. The firm has a market capitalization of $190.80 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The company’s 50 day simple moving average is $48.79 and its 200 day simple moving average is $49.83. 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.

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

Cisco Systems Increases Dividend

The firm also recently announced 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. The ex-dividend date was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

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.