Fulton Bank N.A. Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Fulton Bank N.A. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,828 shares of the network equipment provider's stock after selling 9,602 shares during the quarter. Fulton Bank N.A.'s holdings in Cisco Systems were worth $8,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc boosted its position in Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC lifted its stake in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC lifted its stake in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. lifted its stake in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares during the period. Finally, Maple Capital Management Inc. lifted its stake in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

CSCO traded up $0.03 on Wednesday, reaching $64.39. 14,767,043 shares of the company's stock were exchanged, compared to its average volume of 20,172,983. The stock has a market cap of $254.98 billion, a PE ratio of 28.12, a P/E/G ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock's fifty day moving average price is $59.40 and its 200-day moving average price is $60.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.55%. Cisco Systems's dividend payout ratio is presently 66.94%.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler lifted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Eight 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.00.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the transaction, the senior vice president now directly owns 38,103 shares of the company's stock, valued at $2,419,921.53. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,616 shares of company stock worth $2,640,095 in the last quarter. Company 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.