Wesbanco Bank Inc. Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Wesbanco Bank Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 357,495 shares of the network equipment provider's stock after selling 10,655 shares during the period. Cisco Systems accounts for approximately 0.8% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 29th biggest holding. Wesbanco Bank Inc.'s holdings in Cisco Systems were worth $22,061,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC boosted its stake in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

CSCO traded up $0.91 during trading on Thursday, reaching $65.10. The company's stock had a trading volume of 15,146,864 shares, compared to its average volume of 20,134,938. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company's fifty day moving average price is $60.04 and its 200-day moving average price is $60.49. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market capitalization of $257.80 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly 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 firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share 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. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSCO. Evercore ISI boosted their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. The Goldman Sachs Group increased their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were 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 now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,573 shares of company stock valued at $4,392,619. Corporate insiders own 0.01% of the company's stock.

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.