Keybank National Association OH Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Keybank National Association OH trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,773,865 shares of the network equipment provider's stock after selling 16,670 shares during the quarter. Keybank National Association OH's holdings in Cisco Systems were worth $109,465,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the fourth quarter valued at approximately $30,000. Finally, Campbell Capital Management Inc. bought a new stake in Cisco Systems during the fourth quarter valued at approximately $31,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.53.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were 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. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Cisco Systems stock traded up $1.05 during mid-day trading on Thursday, reaching $69.64. 17,973,495 shares of the company's stock traded hands, compared to its average volume of 20,328,057. The company has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.10 and a beta of 0.90. The stock has a 50 day moving average of $63.67 and a two-hundred day moving average of $61.38. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.89.

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 for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced 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. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

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.