Parkside Financial Bank & Trust Sells 1,412 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Parkside Financial Bank & Trust lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,970 shares of the network equipment provider’s stock after selling 1,412 shares during the period. Parkside Financial Bank & Trust’s holdings in Cisco Systems were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Old Port Advisors increased its position in Cisco Systems by 0.4% during the 1st quarter. Old Port Advisors now owns 54,035 shares of the network equipment provider’s stock valued at $3,008,000 after purchasing an additional 195 shares during the period. Diligent Investors LLC increased its position in Cisco Systems by 0.7% during the 1st quarter. Diligent Investors LLC now owns 27,490 shares of the network equipment provider’s stock valued at $1,533,000 after purchasing an additional 198 shares during the period. Baldwin Brothers LLC MA increased its position in Cisco Systems by 26.1% during the 1st quarter. Baldwin Brothers LLC MA now owns 965 shares of the network equipment provider’s stock valued at $54,000 after purchasing an additional 200 shares during the period. Madison Wealth Partners Inc increased its position in Cisco Systems by 5.1% during the 1st quarter. Madison Wealth Partners Inc now owns 4,231 shares of the network equipment provider’s stock valued at $236,000 after purchasing an additional 206 shares during the period. Finally, TCM Advisors LLC increased its position in Cisco Systems by 0.9% during the 1st quarter. TCM Advisors LLC now owns 22,633 shares of the network equipment provider’s stock valued at $1,262,000 after purchasing an additional 207 shares during the period. Institutional investors own 71.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Barclays downgraded shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $56.00 to $46.00 in a research report on Wednesday. Evercore ISI lifted their price objective on shares of Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Morgan Stanley lifted their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Finally, Cowen lifted their price objective on shares of Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.10.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $41.59 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12 month low of $40.82 and a 12 month high of $64.29. The company has a 50 day simple moving average of $45.13 and a two-hundred day simple moving average of $47.62. The stock has a market cap of $170.89 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.11 and a beta of 0.96.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The firm had revenue of $13.10 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same period in the previous year, the business posted $0.76 EPS. The business’s revenue was down .2% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s dividend payout ratio is currently 53.90%.

Insider Activity at Cisco Systems

In related news, COO Maria Martinez sold 2,831 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total value of $136,992.09. Following the completion of the transaction, the chief operating officer now directly owns 278,012 shares in the company, valued at approximately $13,453,000.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Charles Robbins sold 12,716 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $47.14, for a total value of $599,432.24. Following the completion of the sale, the chief executive officer now owns 631,374 shares of the company’s stock, valued at approximately $29,762,970.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Maria Martinez sold 2,831 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $48.39, for a total transaction of $136,992.09. Following the completion of the sale, the chief operating officer now directly owns 278,012 shares of the company’s stock, valued at approximately $13,453,000.68. The disclosure for this sale can be found here. Insiders sold a total of 56,317 shares of company stock worth $2,612,042 in the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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