Independence Bank of Kentucky Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Independence Bank of Kentucky increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,387 shares of the network equipment provider’s stock after acquiring an additional 738 shares during the quarter. Independence Bank of Kentucky’s holdings in Cisco Systems were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after acquiring an additional 59,466,550 shares in the last quarter. Norges Bank purchased a new position in Cisco Systems in the 4th quarter worth about $2,028,781,000. Morgan Stanley raised its position in Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after buying an additional 9,160,347 shares during the last quarter. Barclays PLC raised its position in Cisco Systems by 83.6% in the 2nd quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock worth $752,554,000 after buying an additional 6,621,125 shares during the last quarter. Finally, State Street Corp raised its position in Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after buying an additional 4,061,022 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last quarter. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. UBS Group upped their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company began coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Melius Research reaffirmed a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Finally, Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.42.

Read Our Latest Research Report on Cisco Systems

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $49.36 on Wednesday. The stock’s fifty day moving average is $49.65 and its 200 day moving average is $50.71. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The firm has a market capitalization of $199.87 billion, a PE ratio of 15.00, a PEG ratio of 2.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.24%. Cisco Systems’s dividend payout ratio (DPR) is presently 47.42%.

About Cisco Systems

(Free Report)

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.

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

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