Glenmede Trust Co. NA Has $152.84 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Glenmede Trust Co. NA lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,871,816 shares of the network equipment provider’s stock after selling 19,421 shares during the quarter. Cisco Systems makes up approximately 0.7% of Glenmede Trust Co. NA’s holdings, making the stock its 26th biggest position. Glenmede Trust Co. NA owned about 0.07% of Cisco Systems worth $152,838,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CSCO. China Universal Asset Management Co. Ltd. grew its holdings in Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Cisco Systems in the 1st quarter valued at $233,000. New Covenant Trust Company N.A. bought a new position in Cisco Systems in the 1st quarter worth $149,000. Montchanin Asset Management LLC bought a new stake in Cisco Systems during the first quarter valued at about $258,000. Finally, Advisory Resource Group grew its position in shares of Cisco Systems by 20.3% in the first quarter. Advisory Resource Group now owns 84,530 shares of the network equipment provider’s stock valued at $4,219,000 after purchasing an additional 14,283 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group cut their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Barclays boosted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Stock Performance

CSCO stock opened at $59.59 on Wednesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.64. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market cap of $237.33 billion, a PE ratio of 25.58, a P/E/G ratio of 4.38 and a beta of 0.83. The business’s 50-day moving average price is $55.35 and its two-hundred day moving average price is $50.32.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,479 shares of company stock worth $19,490,991 in the last quarter. Corporate insiders own 0.01% 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.