Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,430 shares of the network equipment provider’s stock after selling 11,458 shares during the period. Fulton Bank N.A.’s holdings in Cisco Systems were worth $8,669,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CSCO. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the third quarter worth about $40,000. Capital Performance Advisors LLP bought a new position in Cisco Systems in the third quarter worth about $51,000. Finally, FSA Wealth Management LLC acquired a new position in Cisco Systems in the third quarter valued at approximately $56,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.1 %

CSCO traded down $0.04 during midday trading on Wednesday, hitting $58.89. 4,508,517 shares of the company’s stock traded hands, compared to its average volume of 14,944,818. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market cap of $234.54 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The stock’s fifty day simple moving average is $58.44 and its 200-day simple moving average is $52.93.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s payout ratio is presently 68.67%.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays increased their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a report on Monday. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.95.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. 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.