Texas Bank & Trust Co Purchases New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Texas Bank & Trust Co acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 46,587 shares of the network equipment provider's stock, valued at approximately $2,758,000. Cisco Systems makes up approximately 1.1% of Texas Bank & Trust Co's portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Redhawk Wealth Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $209,000. Tallon Kerry Patrick purchased a new position in Cisco Systems during the fourth quarter worth about $603,000. Empirical Asset Management LLC boosted its holdings in Cisco Systems by 39.6% in the 4th quarter. Empirical Asset Management LLC now owns 46,338 shares of the network equipment provider's stock valued at $2,743,000 after purchasing an additional 13,155 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Cisco Systems by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 74,729 shares of the network equipment provider's stock valued at $4,424,000 after buying an additional 2,151 shares during the period. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $210,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSCO. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.00.

Cisco Systems Stock Down 0.8%

NASDAQ:CSCO traded down $0.50 during midday trading on Tuesday, reaching $63.42. The company had a trading volume of 14,991,525 shares, compared to its average volume of 20,368,950. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market capitalization of $252.30 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock's fifty day simple moving average is $58.82 and its 200-day simple moving average is $59.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the business posted $0.88 EPS. The business's quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.59%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems announced that its board has authorized a share 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 buy up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares of the company's stock, valued at $12,886,294.67. The trade was a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,239 shares of company stock valued at $2,181,437. Insiders own 0.01% of the company's stock.

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.