Moody National Bank Trust Division Sells 1,048 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Moody National Bank Trust Division trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.2% in the 4th quarter, HoldingsChannel reports. The fund owned 88,162 shares of the network equipment provider’s stock after selling 1,048 shares during the quarter. Moody National Bank Trust Division’s holdings in Cisco Systems were worth $4,200,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Cisco Systems by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider’s stock valued at $15,110,293,000 after buying an additional 5,586,273 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after purchasing an additional 3,087,294 shares during the last quarter. Dodge & Cox lifted its holdings in shares of Cisco Systems by 0.9% during the 2nd quarter. Dodge & Cox now owns 47,111,072 shares of the network equipment provider’s stock valued at $2,008,816,000 after purchasing an additional 408,930 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Cisco Systems by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 36,134,446 shares of the network equipment provider’s stock worth $1,540,775,000 after purchasing an additional 611,068 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Cisco Systems by 1.4% during the 3rd quarter. First Trust Advisors LP now owns 28,856,199 shares of the network equipment provider’s stock worth $1,154,248,000 after buying an additional 407,992 shares during the last quarter. 71.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Credit Suisse Group raised their price target on Cisco Systems from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. Raymond James boosted their target price on shares of Cisco Systems from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. The Goldman Sachs Group initiated coverage on shares of Cisco Systems in a research note on Monday, March 6th. They set a “neutral” rating on the stock. Morgan Stanley boosted their price objective on shares of Cisco Systems from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, February 16th. Finally, DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, February 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Cisco Systems Stock Up 0.1 %

CSCO opened at $50.19 on Friday. The company has a fifty day moving average of $48.59 and a two-hundred day moving average of $46.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.41. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $56.94. The stock has a market capitalization of $205.57 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.31 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.41 billion. During the same quarter in the previous year, the business earned $0.77 EPS. Cisco Systems’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 3.34 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $1.56 dividend on an annualized basis and a yield of 3.11%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.38. Cisco Systems’s dividend payout ratio (DPR) is currently 55.68%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 20,117 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total transaction of $987,342.36. Following the transaction, the chief executive officer now directly owns 798,970 shares of the company’s stock, valued at $39,213,447.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Prat Bhatt sold 608 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the sale, the senior vice president now directly owns 50,162 shares in the company, valued at $2,444,895.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 20,117 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total value of $987,342.36. Following the completion of the transaction, the chief executive officer now directly owns 798,970 shares of the company’s stock, valued at $39,213,447.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,568 shares of company stock valued at $2,376,624. 0.02% of the stock is owned by corporate insiders.

About Cisco Systems

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.