Hilltop National Bank Sells 344 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hilltop National Bank reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,757 shares of the network equipment provider’s stock after selling 344 shares during the period. Hilltop National Bank’s holdings in Cisco Systems were worth $1,170,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new stake in Cisco Systems in the 2nd quarter worth about $62,000. AGF Management Ltd. grew its holdings in shares of Cisco Systems by 4.6% in the second quarter. AGF Management Ltd. now owns 661,825 shares of the network equipment provider’s stock valued at $31,443,000 after acquiring an additional 28,956 shares in the last quarter. LPL Financial LLC increased its position in shares of Cisco Systems by 1.8% during the second quarter. LPL Financial LLC now owns 4,230,797 shares of the network equipment provider’s stock valued at $201,005,000 after acquiring an additional 73,153 shares during the last quarter. Campbell Wealth Management raised its stake in shares of Cisco Systems by 9.9% during the 2nd quarter. Campbell Wealth Management now owns 4,649 shares of the network equipment provider’s stock worth $221,000 after purchasing an additional 419 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its stake in Cisco Systems by 26.9% in the second quarter. Jupiter Asset Management Ltd. now owns 73,371 shares of the network equipment provider’s stock valued at $3,486,000 after acquiring an additional 15,538 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.58 during midday trading on Friday, hitting $58.62. 4,044,803 shares of the company’s stock were exchanged, compared to its average volume of 14,748,052. The stock has a 50-day moving average price of $58.60 and a two-hundred day moving average price of $53.02. The company has a market cap of $233.47 billion, a P/E ratio of 25.16, a PEG ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.28.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by 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.