CoreFirst Bank & Trust Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CoreFirst Bank & Trust reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,142 shares of the network equipment provider’s stock after selling 953 shares during the period. CoreFirst Bank & Trust’s holdings in Cisco Systems were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario raised its position in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after acquiring an additional 59,680 shares during the period. AlTi Global Inc. boosted its stake in shares of Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after acquiring an additional 6,811 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $1,063,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $69.64 on Friday. The firm has a fifty day simple moving average of $63.93 and a two-hundred day simple moving average of $61.48. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent research reports. KeyCorp started coverage on Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price on the stock. New Street Research reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.53.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the transaction, the executive vice president owned 177,027 shares of the company’s stock, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by company insiders.

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.