Moody National Bank Trust Division Sells 9,802 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Moody National Bank Trust Division reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,658 shares of the network equipment provider’s stock after selling 9,802 shares during the quarter. Moody National Bank Trust Division’s holdings in Cisco Systems were worth $4,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Econ Financial Services Corp bought a new position in shares of Cisco Systems in the fourth quarter valued at about $29,000. Sandy Cove Advisors LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at about $33,000. Evolution Advisers Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at about $33,000. Regency Capital Management Inc. DE bought a new position in shares of Cisco Systems in the fourth quarter valued at about $34,000. Finally, Steward Financial Group LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at about $36,000. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

CSCO opened at $43.57 on Thursday. The company’s 50 day moving average is $47.24 and its 200-day moving average is $53.77. Cisco Systems, Inc. has a 1-year low of $41.02 and a 1-year high of $64.29. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The company has a market cap of $180.42 billion, a P/E ratio of 15.29, a PEG ratio of 2.27 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period in the prior year, the company posted $0.75 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.49%. Cisco Systems’s dividend payout ratio is presently 53.33%.

In related news, COO Maria Martinez sold 4,674 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.33, for a total transaction of $202,524.42. Following the sale, the chief operating officer now directly owns 286,033 shares in the company, valued at approximately $12,393,809.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the sale, the senior vice president now owns 79,855 shares in the company, valued at $3,441,750.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is owned by corporate insiders.

A number of research firms recently commented on CSCO. Evercore ISI lowered their price target on shares of Cisco Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. UBS Group lowered their price target on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Jefferies Financial Group lowered their price target on shares of Cisco Systems from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research report on Thursday, May 19th. Finally, Citigroup lowered their price target on shares of Cisco Systems from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $55.05.

Cisco Systems Profile (Get Rating)

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.

Further Reading

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

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