Associated Banc Corp Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Associated Banc Corp reduced its holdings in Cisco Systems by 1.3%, ending the quarter with 301,961 shares valued at $18.63 million.
• Insider transactions were noted, including sales by EVP Deborah L. Stahlkopf and CEO Charles Robbins, resulting in a decrease of their respective ownership stakes by 5.05% and 4.15%.
• Cisco reported a $0.96 EPS for the last quarter, exceeding estimates, and had a revenue growth of 11.4% year-over-year.

Associated Banc Corp decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 301,961 shares of the network equipment provider's stock after selling 4,077 shares during the quarter. Associated Banc Corp's holdings in Cisco Systems were worth $18,634,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Dimensional Fund Advisors LP raised its stake in Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after purchasing an additional 681,555 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cisco Systems by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider's stock valued at $1,015,948,000 after buying an additional 1,943,563 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Cisco Systems by 2.0% during the 4th quarter. Deutsche Bank AG now owns 15,632,643 shares of the network equipment provider's stock valued at $925,452,000 after buying an additional 301,684 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer directly owned 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company's stock.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $73.00 in a report on Monday, June 16th. New Street Research restated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Evercore ISI restated an "in-line" rating and set a $72.00 price target on shares of Cisco Systems in a report on Monday, July 28th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.55.

Cisco Systems Stock Up 2.5%

NASDAQ CSCO traded up $1.69 on Wednesday, reaching $69.21. 23,097,640 shares of the stock traded hands, compared to its average volume of 16,347,027. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a fifty day moving average price of $67.06 and a 200-day moving average price of $62.85. The company has a market cap of $274.07 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.78 and a beta of 0.91. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.

About Cisco Systems

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.