Fifth Third Bancorp Sells 478,813 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fifth Third Bancorp decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,846,296 shares of the network equipment provider's stock after selling 478,813 shares during the period. Fifth Third Bancorp's holdings in Cisco Systems were worth $92,149,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $32,000. Delos Wealth Advisors LLC grew its stake in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider's stock worth $32,000 after acquiring an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems during the fourth quarter worth $33,000. Morton Brown Family Wealth LLC raised its stake in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC boosted its holdings in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 700 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company's stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a "neutral" rating and a $53.00 price objective on the stock. Melius Research restated a "hold" rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Bank of America upgraded Cisco Systems from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. UBS Group boosted their price objective on Cisco Systems from $54.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, February 12th. Finally, Barclays raised their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.53.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.05 during trading hours on Thursday, hitting $46.79. 15,432,763 shares of the stock were exchanged, compared to its average volume of 19,189,180. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The business's 50-day moving average is $48.83 and its two-hundred day moving average is $49.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a market capitalization of $189.46 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.71 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.39. Cisco Systems's dividend payout ratio is currently 48.63%.

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.

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