Capital City Trust Co. FL Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Capital City Trust Co. FL lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,211 shares of the network equipment provider’s stock after selling 918 shares during the quarter. Capital City Trust Co. FL’s holdings in Cisco Systems were worth $1,342,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CSCO. China Universal Asset Management Co. Ltd. raised its position in shares of Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after purchasing an additional 18,339 shares during the last quarter. Davis R M Inc. lifted its stake in shares of Cisco Systems by 7.4% in the first quarter. Davis R M Inc. now owns 19,193 shares of the network equipment provider’s stock worth $958,000 after buying an additional 1,324 shares in the last quarter. Delta Asset Management LLC TN grew its holdings in shares of Cisco Systems by 1.7% during the first quarter. Delta Asset Management LLC TN now owns 16,111 shares of the network equipment provider’s stock valued at $804,000 after buying an additional 275 shares during the last quarter. PYA Waltman Capital LLC increased its position in shares of Cisco Systems by 2.3% during the first quarter. PYA Waltman Capital LLC now owns 14,953 shares of the network equipment provider’s stock valued at $746,000 after acquiring an additional 331 shares in the last quarter. Finally, Hilltop Partners LLC raised its holdings in Cisco Systems by 2.3% in the 1st quarter. Hilltop Partners LLC now owns 20,254 shares of the network equipment provider’s stock worth $1,011,000 after acquiring an additional 448 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,924 shares of company stock worth $1,798,131 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CSCO shares. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Price Performance

CSCO stock opened at $57.46 on Monday. The company has a current ratio of 0.88, 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 $59.38. The stock has a market cap of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. The company has a 50-day moving average price of $54.18 and a 200 day moving average price of $49.80.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.