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

First Citizens Bank & Trust Co. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 285,487 shares of the network equipment provider’s stock after selling 14,338 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Cisco Systems were worth $15,194,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. Capital Investment Advisors LLC boosted its holdings in Cisco Systems by 5.2% during the third quarter. Capital Investment Advisors LLC now owns 975,833 shares of the network equipment provider’s stock worth $51,934,000 after buying an additional 47,853 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Cisco Systems by 105.8% during the 3rd quarter. Blue Trust Inc. now owns 55,169 shares of the network equipment provider’s stock valued at $2,936,000 after acquiring an additional 28,362 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after acquiring an additional 185 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 4.8% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 10,063 shares of the network equipment provider’s stock worth $536,000 after acquiring an additional 462 shares during the period. Finally, Accurate Wealth Management LLC increased its stake in Cisco Systems by 2.3% in the 3rd quarter. Accurate Wealth Management LLC now owns 50,173 shares of the network equipment provider’s stock valued at $2,713,000 after purchasing an additional 1,138 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. Evercore ISI upped their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.74.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is owned by insiders.

Cisco Systems Trading Up 0.6 %

NASDAQ CSCO opened at $56.76 on Friday. The company has a 50-day moving average of $51.17 and a 200-day moving average of $48.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.87. The company has a market cap of $228.68 billion, a P/E ratio of 19.11, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 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.