OLD National Bancorp IN Sells 3,314 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

OLD National Bancorp IN lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,137 shares of the network equipment provider’s stock after selling 3,314 shares during the quarter. OLD National Bancorp IN’s holdings in Cisco Systems were worth $13,091,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter worth about $3,297,905,000. Northern Trust Corp lifted its holdings in shares of Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock worth $2,159,099,000 after acquiring an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after acquiring an additional 681,555 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSCO. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Finally, UBS Group lifted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Trading Up 2.2%

NASDAQ:CSCO opened at $66.06 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $261.60 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88. The firm has a 50-day simple moving average of $59.61 and a 200-day simple moving average of $60.36. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.48%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $4,564,439 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

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.