Country Club Bank Has $11.49 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Country Club Bank cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 188,707 shares of the network equipment provider's stock after selling 42,079 shares during the quarter. Country Club Bank's holdings in Cisco Systems were worth $11,485,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $30,000. Finally, Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $31,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares of the company's stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated 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 sale, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last ninety days. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CSCO shares. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Evercore ISI raised their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Citigroup raised their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, KeyCorp assumed coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price on the stock. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Cisco Systems Stock Down 1.2%

Shares of NASDAQ CSCO traded down $0.81 during mid-day trading on Friday, reaching $67.95. 14,698,247 shares of the company traded hands, compared to its average volume of 20,363,229. 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 stock has a market cap of $269.08 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The company's fifty day moving average is $65.02 and its two-hundred day moving average is $61.81. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS 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 firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems's payout ratio is presently 66.94%.

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.