Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First Interstate Bank

First Interstate Bank decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 153,867 shares of the network equipment provider’s stock after selling 852 shares during the period. First Interstate Bank’s holdings in Cisco Systems were worth $8,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. F M Investments LLC lifted its holdings in shares of Cisco Systems by 0.4% in the third quarter. F M Investments LLC now owns 138,011 shares of the network equipment provider’s stock valued at $7,332,000 after buying an additional 535 shares during the period. BluePath Capital Management LLC raised its position in Cisco Systems by 14.8% in the third quarter. BluePath Capital Management LLC now owns 19,813 shares of the network equipment provider’s stock worth $1,054,000 after acquiring an additional 2,557 shares in the last quarter. Visionary Horizons LLC lifted its holdings in Cisco Systems by 16.4% in the 3rd quarter. Visionary Horizons LLC now owns 11,854 shares of the network equipment provider’s stock valued at $631,000 after acquiring an additional 1,674 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Cisco Systems by 7.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,128 shares of the network equipment provider’s stock valued at $1,471,000 after purchasing an additional 1,803 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Cisco Systems by 8.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 69,954 shares of the network equipment provider’s stock worth $3,723,000 after purchasing an additional 5,600 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were 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 approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cisco Systems 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 transaction 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 filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated 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 directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Up 1.3 %

CSCO stock traded up $0.73 during mid-day trading on Friday, hitting $55.50. The stock had a trading volume of 19,235,612 shares, compared to its average volume of 19,047,523. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.61 and a beta of 0.83. The company has a fifty day moving average of $52.63 and a 200 day moving average of $49.09. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. On average, equities analysts expect 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 was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised their price objective 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 reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $56.74.

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.