Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Argent Trust Co

Argent Trust Co reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,266 shares of the network equipment provider’s stock after selling 1,993 shares during the quarter. Argent Trust Co’s holdings in Cisco Systems were worth $12,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Cisco Systems in the second quarter valued at $25,000. Retirement Group LLC raised its position in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at about $36,000. Tidemark LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the first quarter worth approximately $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Finally, Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Trading Down 0.8 %

NASDAQ:CSCO opened at $50.61 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $56.28. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $48.25 and its 200-day simple moving average is $47.99. The firm has a market cap of $203.90 billion, a P/E ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. Cisco Systems’s payout ratio is currently 53.87%.

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.