Bell Bank Sells 27,023 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bell Bank reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 183,507 shares of the network equipment provider’s stock after selling 27,023 shares during the period. Cisco Systems accounts for approximately 1.2% of Bell Bank’s portfolio, making the stock its 17th largest holding. Bell Bank’s holdings in Cisco Systems were worth $9,766,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in Cisco Systems during the 2nd quarter worth about $25,000. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.32.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $59.18 on Thursday. The stock has a market capitalization of $236.17 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The business’s 50 day simple moving average is $53.64 and its two-hundred day simple moving average is $49.57.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. Analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company 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. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

Cisco Systems Company 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.