First American Trust FSB Sells 2,313 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First American Trust FSB trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.5% in the fourth quarter, Holdings Channel reports. The firm owned 14,873 shares of the network equipment provider’s stock after selling 2,313 shares during the quarter. First American Trust FSB’s holdings in Cisco Systems were worth $881,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Cisco Systems during the fourth quarter worth $560,722,000. FMR LLC increased its stake in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after purchasing an additional 5,223,800 shares during the period. National Bank of Canada FI lifted its stake in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares during the last quarter. Finally, State Street Corp grew its holdings in Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 1.1 %

Shares of Cisco Systems stock opened at $60.97 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a market capitalization of $242.56 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 4.16 and a beta of 0.79. The firm’s 50-day moving average price is $62.00 and its two-hundred day moving average price is $58.25.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is currently 71.62%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSCO shares. The Goldman Sachs Group raised their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Finally, Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

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.