Raymond James Trust N.A. Sells 9,745 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Raymond James Trust N.A. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 579,096 shares of the network equipment provider’s stock after selling 9,745 shares during the period. Cisco Systems accounts for approximately 0.9% of Raymond James Trust N.A.’s investment portfolio, making the stock its 23rd biggest position. Raymond James Trust N.A.’s holdings in Cisco Systems were worth $24,692,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Ballast Advisors LLC grew its stake in shares of Cisco Systems by 4.0% in the 1st quarter. Ballast Advisors LLC now owns 8,632 shares of the network equipment provider’s stock valued at $481,000 after buying an additional 334 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Cisco Systems by 137.4% in the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,185,999 shares of the network equipment provider’s stock valued at $50,583,000 after buying an additional 686,379 shares during the period. Fortem Financial Group LLC grew its stake in shares of Cisco Systems by 8.6% in the 1st quarter. Fortem Financial Group LLC now owns 35,631 shares of the network equipment provider’s stock valued at $1,987,000 after buying an additional 2,832 shares during the period. Pure Financial Advisors LLC grew its stake in shares of Cisco Systems by 4.9% in the 1st quarter. Pure Financial Advisors LLC now owns 6,195 shares of the network equipment provider’s stock valued at $345,000 after buying an additional 287 shares during the period. Finally, Harbor Investment Advisory LLC grew its stake in shares of Cisco Systems by 1.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 27,554 shares of the network equipment provider’s stock valued at $1,536,000 after buying an additional 338 shares during the period. 71.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jeffery S. Sharritts sold 12,838 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $47.86, for a total value of $614,426.68. Following the sale, the executive vice president now owns 167,532 shares in the company, valued at $8,018,081.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Maria Martinez sold 2,831 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total transaction of $136,992.09. Following the sale, the chief operating officer now directly owns 278,012 shares in the company, valued at approximately $13,453,000.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffery S. Sharritts sold 12,838 shares of Cisco Systems stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $47.86, for a total transaction of $614,426.68. Following the completion of the sale, the executive vice president now owns 167,532 shares in the company, valued at $8,018,081.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,317 shares of company stock worth $2,612,042. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Cowen lifted their price target on Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Morgan Stanley lifted their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. Cowen lifted their price target on Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. UBS Group lifted their price target on Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Finally, Rosenblatt Securities boosted their target price on Cisco Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.10.

Cisco Systems Trading Down 1.1 %

Cisco Systems stock opened at $41.15 on Friday. The stock has a market cap of $169.08 billion, a P/E ratio of 14.59, a PEG ratio of 2.06 and a beta of 0.96. Cisco Systems, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $64.29. The firm’s fifty day moving average price is $45.11 and its 200-day moving average price is $47.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The business had revenue of $13.10 billion during the quarter, compared to the consensus estimate of $12.78 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s dividend payout ratio is currently 53.90%.

About Cisco Systems

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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.

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

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