OLD Second National Bank of Aurora Sells 467 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

OLD Second National Bank of Aurora cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,186 shares of the network equipment provider’s stock after selling 467 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Cisco Systems were worth $1,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after buying an additional 6,345,954 shares during the period. Bank of New York Mellon Corp lifted its holdings in Cisco Systems by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock worth $3,417,011,000 after buying an additional 2,386,508 shares during the period. Norges Bank purchased a new stake in Cisco Systems in the fourth quarter worth about $2,528,939,000. Wellington Management Group LLP lifted its holdings in Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on CSCO shares. Oppenheimer raised their price objective 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. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” 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 given a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average target price of $56.47.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.96 during trading hours on Friday, reaching $47.72. The company had a trading volume of 9,863,918 shares, compared to its average volume of 19,514,480. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The firm has a market cap of $192.25 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.68 and a beta of 0.85. The firm’s 50 day moving average price is $46.89 and its 200-day moving average price is $48.60.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the company’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 of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 in the last 90 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.