1ST Source Bank Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

1ST Source Bank trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,277 shares of the network equipment provider’s stock after selling 1,101 shares during the period. 1ST Source Bank’s holdings in Cisco Systems were worth $4,907,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CORDA Investment Management LLC. raised its stake in Cisco Systems by 15.0% in the second quarter. CORDA Investment Management LLC. now owns 24,745 shares of the network equipment provider’s stock worth $1,280,000 after buying an additional 3,225 shares in the last quarter. Lakeside Advisors INC. grew its holdings in Cisco Systems by 37.5% in the second quarter. Lakeside Advisors INC. now owns 9,527 shares of the network equipment provider’s stock worth $493,000 after purchasing an additional 2,596 shares during the period. Hamilton Capital LLC grew its holdings in Cisco Systems by 6.8% in the second quarter. Hamilton Capital LLC now owns 14,427 shares of the network equipment provider’s stock worth $746,000 after purchasing an additional 924 shares during the period. Wealthspire Advisors LLC grew its holdings in Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after purchasing an additional 23,194 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the period. 72.21% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark Garrett sold 899 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total transaction of $43,044.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, Director Mark Garrett sold 899 shares of Cisco Systems stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total value of $43,044.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 5,060 shares of Cisco Systems stock in a transaction on Friday, November 17th. The stock was sold at an average price of $47.95, for a total transaction of $242,627.00. Following the completion of the transaction, the senior vice president now directly owns 67,422 shares of the company’s stock, valued at $3,232,884.90. The disclosure for this sale can be found here. Insiders have sold 150,475 shares of company stock worth $7,464,194 in the last three months. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSCO. Rosenblatt Securities cut their price objective on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. UBS Group upped their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James cut shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a report on Monday, October 30th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Oppenheimer cut their price target on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.26.

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Cisco Systems Stock Performance

Cisco Systems stock traded down $0.10 during midday trading on Monday, reaching $50.03. 6,432,638 shares of the company traded hands, compared to its average volume of 18,215,436. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.47 and a quick ratio of 1.34. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The firm has a market capitalization of $203.30 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.39 and a beta of 0.90. The business has a 50 day moving average of $50.19 and a two-hundred day moving average of $52.20.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same period last year, the firm earned $0.77 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that Cisco Systems, Inc. will post 3.38 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Thursday, January 4th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 3.12%. Cisco Systems’s payout ratio is 47.13%.

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. 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.

Further Reading

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

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