STAR Financial Bank Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

STAR Financial Bank lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,433 shares of the network equipment provider’s stock after selling 250 shares during the quarter. STAR Financial Bank’s holdings in Cisco Systems were worth $521,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CSCO. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth $32,000. Delos Wealth Advisors LLC boosted its holdings in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $33,000. Morton Brown Family Wealth LLC raised its position in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC raised its position in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Citigroup started coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Finally, Oppenheimer raised their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.47.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ:CSCO traded up $0.47 during mid-day trading on Wednesday, hitting $46.27. The company had a trading volume of 18,731,715 shares, compared to its average volume of 19,588,938. The firm has a fifty day moving average price of $46.89 and a 200 day moving average price of $48.61. The company has a market capitalization of $186.41 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity

In related news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.