Whittier Trust Co. Sells 4,457 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Whittier Trust Co. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,937 shares of the network equipment provider's stock after selling 4,457 shares during the quarter. Whittier Trust Co.'s holdings in Cisco Systems were worth $11,534,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC raised its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $413,491,000. GAMMA Investing LLC raised its holdings in shares of Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after acquiring an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after acquiring an additional 4,880,747 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSCO shares. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Wolfe Research assumed coverage on shares of Cisco Systems in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.95.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $67.82 on Tuesday. The firm has a 50 day moving average of $65.19 and a 200-day moving average of $61.89. The stock has a market capitalization of $268.57 billion, a PE ratio of 27.68, a PEG ratio of 4.07 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 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 $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider owned 255,377 shares of the company's stock, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

About Cisco Systems

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.