Citizens National Bank Trust Department Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Citizens National Bank Trust Department lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,945 shares of the network equipment provider’s stock after selling 700 shares during the period. Citizens National Bank Trust Department’s holdings in Cisco Systems were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CSCO. State Street Corp lifted its holdings in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the period. Geode Capital Management LLC grew its stake in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares during the period. FMR LLC increased its holdings in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after buying an additional 216,632 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,921 shares of company stock worth $4,298,667. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Citigroup raised their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Stock Up 0.4 %

Shares of NASDAQ CSCO opened at $64.84 on Thursday. The firm’s 50-day moving average is $60.43 and its two-hundred day moving average is $55.95. The company has a market capitalization of $258.24 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 4.55 and a beta of 0.84. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.01 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.53%. Cisco Systems’s payout ratio is presently 69.87%.

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.