Huntington National Bank Sells 78,784 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Huntington National Bank lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 926,700 shares of the network equipment provider’s stock after selling 78,784 shares during the quarter. Huntington National Bank’s holdings in Cisco Systems were worth $36,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Ridgewood Investments LLC grew its stake in shares of Cisco Systems by 137.9% during the first quarter. Ridgewood Investments LLC now owns 22,058 shares of the network equipment provider’s stock valued at $867,000 after buying an additional 12,786 shares during the last quarter. Argyle Capital Management Inc. grew its stake in shares of Cisco Systems by 0.7% during the first quarter. Argyle Capital Management Inc. now owns 88,970 shares of the network equipment provider’s stock valued at $3,497,000 after buying an additional 620 shares during the last quarter. Tower Bridge Advisors boosted its holdings in shares of Cisco Systems by 11.4% during the first quarter. Tower Bridge Advisors now owns 202,603 shares of the network equipment provider’s stock worth $7,964,000 after purchasing an additional 20,814 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of Cisco Systems by 8.8% during the first quarter. KCM Investment Advisors LLC now owns 199,678 shares of the network equipment provider’s stock worth $7,849,000 after purchasing an additional 16,173 shares during the period. Finally, Kerntke Otto McGlone Wealth Management Group boosted its holdings in shares of Cisco Systems by 4.1% during the first quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,926 shares of the network equipment provider’s stock worth $272,000 after purchasing an additional 275 shares during the period. 72.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of CSCO stock traded up $0.85 during trading hours on Wednesday, hitting $43.34. 17,396,342 shares of the company’s stock traded hands, compared to its average volume of 29,198,291. The stock’s fifty day simple moving average is $39.52 and its two-hundred day simple moving average is $44.66. Cisco Systems, Inc. has a 12-month low of $32.40 and a 12-month high of $58.26. The stock has a market cap of $182.61 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.89 and a beta of 1.03. The company has a quick ratio of 1.75, a current ratio of 1.81 and a debt-to-equity ratio of 0.41.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Cisco Systems had a net margin of 21.44% and a return on equity of 36.40%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same period last year, the business earned $0.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.32%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. Cisco Systems’s dividend payout ratio (DPR) is 50.53%.

In related news, EVP Maria Martinez sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $232,650.00. Following the completion of the sale, the executive vice president now owns 199,321 shares of the company’s stock, valued at $9,274,406.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 3,910 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $181,932.30. The disclosure for this sale can be found here. Insiders have sold 78,910 shares of company stock valued at $3,296,482 in the last three months. 0.03% of the stock is owned by insiders.

A number of analysts have recently weighed in on CSCO shares. Robert W. Baird increased their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Co dropped their target price on shares of Cisco Systems from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Standpoint Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Bank of America lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Finally, William Blair restated a “market perform” rating on shares of Cisco Systems in a report on Thursday, February 13th. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $51.05.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

See Also: Market Indexes

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.