First United Bank & Trust Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

First United Bank & Trust trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,648 shares of the network equipment provider’s stock after selling 2,738 shares during the period. First United Bank & Trust’s holdings in Cisco Systems were worth $1,365,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CSCO. Bank of New York Mellon Corp grew its stake in shares of Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after buying an additional 1,853,598 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB purchased a new position in shares of Cisco Systems in the 1st quarter worth $840,538,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after buying an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSCO. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Barclays dropped their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.21.

Cisco Systems Trading Down 0.4 %

Shares of Cisco Systems stock opened at $54.08 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.83 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 $54.61. The firm has a market capitalization of $217.88 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 4.22 and a beta of 0.83. The firm’s 50 day simple moving average is $50.51 and its two-hundred day simple moving average is $48.45.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. 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 accessible through this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

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.