Wesbanco Bank Inc. Sells 10,655 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wesbanco Bank Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 357,495 shares of the network equipment provider’s stock after selling 10,655 shares during the period. Cisco Systems accounts for about 0.8% of Wesbanco Bank Inc.’s portfolio, making the stock its 29th largest holding. Wesbanco Bank Inc.’s holdings in Cisco Systems were worth $22,061,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC increased its holdings in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSCO. The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Stock Up 2.2%

Shares of NASDAQ CSCO opened at $66.06 on Monday. The company has a 50 day simple moving average of $59.61 and a 200 day simple moving average of $60.38. 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, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a market cap of $261.60 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.48%. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock worth $4,564,439 over the last ninety days. 0.01% of the stock is owned by insiders.

About Cisco Systems

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.