Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,607 shares of the network equipment provider's stock after selling 11,317 shares during the period. First Financial Bank Trust Division's holdings in Cisco Systems were worth $2,629,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSCO. Tallon Kerry Patrick bought a new position in shares of Cisco Systems in the fourth quarter worth $603,000. Brighton Jones LLC grew its position 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. Exchange Traded Concepts LLC boosted its holdings in Cisco Systems by 60.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider's stock valued at $487,000 after purchasing an additional 3,093 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Cisco Systems by 5.4% in the fourth quarter. Foundations Investment Advisors LLC now owns 27,086 shares of the network equipment provider's stock valued at $1,604,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its position in Cisco Systems by 16.2% in the 4th quarter. Griffin Asset Management Inc. now owns 9,059 shares of the network equipment provider's stock worth $536,000 after purchasing an additional 1,260 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.23 during midday trading on Monday, hitting $63.27. 5,476,973 shares of the company's stock were exchanged, compared to its average volume of 20,186,454. The company's 50 day moving average price is $59.30 and its 200 day moving average price is $60.12. The firm has a market capitalization of $250.55 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 26.08% and a net margin of 16.96%. The company's quarterly 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. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company 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 $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,616 shares of company stock worth $2,640,095 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSCO. UBS Group lifted their target price on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Citigroup lifted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $68.00.

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.