St. Louis Trust Co Sells 3,525 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

St. Louis Trust Co reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,399 shares of the network equipment provider’s stock after selling 3,525 shares during the quarter. St. Louis Trust Co’s holdings in Cisco Systems were worth $766,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. boosted its stake in shares of Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after acquiring an additional 92,179 shares during the period. Finally, IRON Financial LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth approximately $856,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSCO. Citigroup raised their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,615 shares of company stock valued at $682,681. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.3 %

CSCO stock opened at $57.31 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The business has a 50-day simple moving average of $54.35 and a 200 day simple moving average of $49.88. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $228.71 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. Cisco Systems’s payout ratio is 68.67%.

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.