Cisco Systems, Inc. (NASDAQ:CSCO) is Farmers Trust Co.’s 7th Largest Position

Farmers Trust Co. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 173,794 shares of the network equipment provider’s stock after selling 3,353 shares during the quarter. Cisco Systems comprises about 1.9% of Farmers Trust Co.’s portfolio, making the stock its 7th biggest position. Farmers Trust Co.’s holdings in Cisco Systems were worth $10,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Quarry LP grew its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the 3rd quarter worth about $40,000. Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at about $51,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Cisco Systems during the third quarter worth about $56,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.2 %

Shares of NASDAQ:CSCO traded up $0.14 on Wednesday, hitting $59.07. The company had a trading volume of 7,075,992 shares, compared to its average volume of 15,445,854. The firm’s 50-day simple moving average is $58.44 and its two-hundred day simple moving average is $52.93. The firm has a market capitalization of $235.26 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the business posted $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSCO. UBS Group boosted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays upped their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.95.

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.