Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% during the first quarter, Holdings Channel reports. The fund owned 31,303 shares of the network equipment provider’s stock after selling 2,482 shares during the period. Central Bank & Trust Co.’s holdings in Cisco Systems were worth $1,932,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its holdings in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CSCO. Piper Sandler raised their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was 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 directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $4,564,439 over the last 90 days. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 2.2%

NASDAQ CSCO opened at $66.06 on Friday. The stock has a market capitalization of $261.60 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88. 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 52-week low of $44.50 and a 52-week high of $66.50. The firm has a 50-day moving average price of $59.61 and a 200 day moving average price of $60.36.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for 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%. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.