Country Club Bank Has $12.72 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Country Club Bank trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 239,843 shares of the network equipment provider’s stock after selling 5,632 shares during the period. Country Club Bank’s holdings in Cisco Systems were worth $12,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in Cisco Systems during the second quarter worth $25,000. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Retirement Group LLC grew its stake 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 buying an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems in the 2nd quarter valued at about $36,000. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, 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 transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 $33,794,278.35. 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 a total of 70,529 shares of company stock valued at $3,509,049 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Rosenblatt Securities lifted 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 upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $55.74 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $52.12 and its 200 day simple moving average is $48.87. The firm has a market capitalization of $224.57 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

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.