Commerce Bank Sells 21,188 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Commerce Bank reduced its stake in Cisco Systems by 2.8% during the first quarter, selling 21,188 shares and leaving it with 728,072 shares valued at approximately $44.9 million.
• Cisco reported earnings per share (EPS) of $0.96 for the last quarter, surpassing expectations and showing an 11.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.41 per share, yielding 2.4%, with a payout ratio of about 66.94%.

Commerce Bank trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 728,072 shares of the network equipment provider's stock after selling 21,188 shares during the quarter. Commerce Bank's holdings in Cisco Systems were worth $44,929,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. MONECO Advisors LLC boosted its stake in shares of Cisco Systems by 0.5% during the first quarter. MONECO Advisors LLC now owns 58,215 shares of the network equipment provider's stock valued at $3,592,000 after purchasing an additional 284 shares in the last quarter. Howland Capital Management LLC boosted its stake in shares of Cisco Systems by 63.1% during the first quarter. Howland Capital Management LLC now owns 35,790 shares of the network equipment provider's stock valued at $2,209,000 after purchasing an additional 13,846 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in shares of Cisco Systems by 4.9% during the first quarter. Nicolet Advisory Services LLC now owns 22,791 shares of the network equipment provider's stock valued at $1,290,000 after purchasing an additional 1,060 shares in the last quarter. Pasadena Private Wealth LLC boosted its stake in shares of Cisco Systems by 10.3% during the first quarter. Pasadena Private Wealth LLC now owns 9,051 shares of the network equipment provider's stock valued at $559,000 after purchasing an additional 845 shares in the last quarter. Finally, Coastal Bridge Advisors LLC boosted its stake in shares of Cisco Systems by 12.6% during the first quarter. Coastal Bridge Advisors LLC now owns 11,257 shares of the network equipment provider's stock valued at $695,000 after purchasing an additional 1,262 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.3%

NASDAQ CSCO opened at $68.08 on Friday. The firm has a market capitalization of $269.60 billion, a P/E ratio of 27.79, a PEG ratio of 4.08 and a beta of 0.90. The business has a fifty day simple moving average of $66.79 and a 200 day simple moving average of $62.66. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

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

Cisco Systems Dividend Announcement

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

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $70.35.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares of the company's stock, valued at $11,331,498.27. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the 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 transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

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.

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