Trust Point Inc. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Trust Point Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,939 shares of the network equipment provider's stock after selling 5,559 shares during the quarter. Trust Point Inc.'s holdings in Cisco Systems were worth $1,601,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $603,000. Brighton Jones LLC increased its holdings in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after buying an additional 2,474 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in Cisco Systems by 8.3% in the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after buying an additional 407 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in Cisco Systems by 0.8% in the 4th quarter. Congress Asset Management Co. now owns 256,019 shares of the network equipment provider's stock valued at $15,156,000 after buying an additional 1,992 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 0.8%

CSCO traded up $0.51 during trading hours on Thursday, hitting $65.84. 22,661,981 shares of the company's stock were exchanged, compared to its average volume of 20,178,995. The firm has a market cap of $260.73 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.91 and a beta of 0.88. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $61.02 and a 200 day moving average of $60.69.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for 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%. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $65.00 to $73.00 in a report on Monday. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.11.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the transaction, the executive vice president now owns 177,027 shares in the company, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,931 shares of company stock worth $4,671,930. Company insiders own 0.01% of the company's stock.

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.