CHICAGO TRUST Co NA Purchases 5,164 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

CHICAGO TRUST Co NA raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,369 shares of the network equipment provider’s stock after acquiring an additional 5,164 shares during the period. CHICAGO TRUST Co NA’s holdings in Cisco Systems were worth $2,800,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Range Financial Group LLC boosted its holdings in Cisco Systems by 31.9% during the first quarter. Range Financial Group LLC now owns 15,682 shares of the network equipment provider’s stock valued at $968,000 after acquiring an additional 3,792 shares during the period. Moss Adams Wealth Advisors LLC boosted its holdings in Cisco Systems by 36.4% during the first quarter. Moss Adams Wealth Advisors LLC now owns 15,328 shares of the network equipment provider’s stock valued at $946,000 after acquiring an additional 4,090 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in Cisco Systems by 1.0% during the first quarter. First Citizens Bank & Trust Co. now owns 283,674 shares of the network equipment provider’s stock valued at $17,506,000 after acquiring an additional 2,848 shares during the period. Priebe Wealth Holdings LLC bought a new stake in Cisco Systems during the first quarter valued at about $301,000. Finally, Abacus Planning Group Inc. boosted its holdings in Cisco Systems by 9.4% during the first quarter. Abacus Planning Group Inc. now owns 11,485 shares of the network equipment provider’s stock valued at $709,000 after acquiring an additional 989 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $66.06 on Monday. The firm has a market capitalization of $261.60 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The firm has a 50-day moving average price of $59.61 and a 200 day moving average price of $60.38. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 analyst estimates 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 was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors 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. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the sale, the executive vice president now directly owns 131,676 shares of the company’s stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock valued at $4,564,439 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research reports. Citigroup increased their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group increased their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.