Wesbanco Bank Inc. Sells 10,718 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Wesbanco Bank trimmed its Cisco Systems stake by 2.6% in the fourth quarter, selling 10,718 shares and leaving it with 395,563 shares worth about $30.47 million.
• Cisco reported strong quarterly results, beating EPS and revenue estimates with $1.04 EPS on $15.35 billion in revenue, while revenue rose 9.7% year over year.
• The company also raised its quarterly dividend to $0.42 per share, and analysts currently rate the stock a consensus “Moderate Buy” with an average target price of $90.29.

Wesbanco Bank Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 395,563 shares of the network equipment provider's stock after selling 10,718 shares during the quarter. Cisco Systems accounts for 0.8% of Wesbanco Bank Inc.'s holdings, making the stock its 21st biggest holding. Wesbanco Bank Inc.'s holdings in Cisco Systems were worth $30,470,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Cairn Investment Group Inc. grew its position in Cisco Systems by 0.5% in the 4th quarter. Cairn Investment Group Inc. now owns 24,146 shares of the network equipment provider's stock valued at $1,860,000 after acquiring an additional 130 shares during the last quarter. Juncture Wealth Strategies LLC lifted its stake in shares of Cisco Systems by 0.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider's stock worth $1,159,000 after purchasing an additional 132 shares during the last quarter. Northstar Advisory Group LLC lifted its stake in shares of Cisco Systems by 1.6% during the 4th quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider's stock worth $632,000 after purchasing an additional 133 shares during the last quarter. Roman Butler Fullerton & Co. raised its stake in Cisco Systems by 0.8% in the fourth quarter. Roman Butler Fullerton & Co. now owns 15,917 shares of the network equipment provider's stock valued at $1,183,000 after buying an additional 133 shares during the last quarter. Finally, MMA Asset Management LLC raised its stake in Cisco Systems by 2.3% in the fourth quarter. MMA Asset Management LLC now owns 6,167 shares of the network equipment provider's stock valued at $475,000 after buying an additional 139 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $96.57 on Friday. Cisco Systems, Inc. has a fifty-two week low of $59.44 and a fifty-two week high of $97.02. The stock's fifty day moving average is $82.32 and its two-hundred day moving average is $78.56. The firm has a market capitalization of $381.44 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 3.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.42 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd were issued a $0.42 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, April 2nd. This represents a $1.68 annualized dividend and a yield of 1.7%. Cisco Systems's payout ratio is 58.95%.

Analyst Ratings Changes

A number of research firms have commented on CSCO. Wall Street Zen cut Cisco Systems from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Argus upgraded Cisco Systems to a "strong-buy" rating in a research report on Friday, February 13th. UBS Group lifted their price target on Cisco Systems from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Zacks Research lowered Cisco Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cisco Systems in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average target price of $90.29.

Key Stories Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

• Positive Sentiment: Cisco is drawing heavier investor attention ahead of earnings, which can support trading volume and sentiment as traders position for a potential report-driven move. Cisco Systems, Inc. (CSCO) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Analysts are continuing to frame Cisco’s investment case around its next quarterly results, with some views slightly improving fair value estimates, suggesting lingering confidence in the company’s fundamentals. How The Cisco Systems (CSCO) Investment Story Is Shifting As Analyst Views Diverge
• Neutral Sentiment: Cisco is set to participate in multiple upcoming financial-community events in May and June, which keeps management visible to investors but does not directly change the fundamentals. Cisco to Participate in May & June Events with the Financial Community
• Neutral Sentiment: Wall Street estimates for Cisco’s upcoming quarter are being closely dissected, but this is mainly an expectations check ahead of earnings rather than a new business catalyst. Unlocking Q3 Potential of Cisco (CSCO): Exploring Wall Street Estimates for Key Metrics
• Negative Sentiment: Recent coverage noted Cisco shares underperformed the broader market and dropped in the latest session, showing some near-term pressure before the company’s next earnings catalyst. Cisco Systems (CSCO) Stock Drops Despite Market Gains: Important Facts to Note

Insider Activity

In related news, CEO Charles Robbins sold 19,545 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the transaction, the chief executive officer owned 671,095 shares of the company's stock, valued at approximately $51,003,220. This represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the transaction, the executive vice president directly owned 187,097 shares in the company, valued at approximately $14,874,211.50. The trade was a 4.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,431 shares of company stock worth $3,574,820 in the last quarter. Insiders own 0.01% of the company's stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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