Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Indiana Trust & Investment Management CO

Indiana Trust & Investment Management CO lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% during the first quarter, HoldingsChannel.com reports. The firm owned 9,252 shares of the network equipment provider’s stock after selling 1,164 shares during the period. Indiana Trust & Investment Management CO’s holdings in Cisco Systems were worth $478,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Fulcrum Equity Management acquired a new stake in Cisco Systems during the first quarter worth about $224,000. Security National Bank acquired a new stake in Cisco Systems during the first quarter worth about $239,000. Confluence Investment Management LLC raised its stake in Cisco Systems by 10.4% during the first quarter. Confluence Investment Management LLC now owns 1,881,897 shares of the network equipment provider’s stock worth $97,313,000 after acquiring an additional 177,568 shares during the period. Fulton Bank N.A. raised its stake in Cisco Systems by 3.2% during the first quarter. Fulton Bank N.A. now owns 169,685 shares of the network equipment provider’s stock worth $8,774,000 after acquiring an additional 5,234 shares during the period. Finally, Stillwater Investment Management LLC raised its stake in Cisco Systems by 0.7% during the first quarter. Stillwater Investment Management LLC now owns 73,609 shares of the network equipment provider’s stock worth $3,806,000 after acquiring an additional 482 shares during the period. Institutional investors and hedge funds own 70.62% of the company’s stock.

CSCO stock traded down $0.12 on Thursday, hitting $51.65. 280,007 shares of the company’s stock traded hands, compared to its average volume of 22,293,586. Cisco Systems, Inc. has a 1-year low of $35.28 and a 1-year high of $52.94. The stock has a market cap of $218.06 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 2.54 and a beta of 0.95. The stock has a fifty day moving average of $48.45 and a 200-day moving average of $43.93. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same period in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Monday, April 5th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio is 50.68%.

Several equities research analysts recently weighed in on CSCO shares. Credit Suisse Group increased their price objective on shares of Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 10th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Thursday, March 11th. Citigroup upped their target price on shares of Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, February 11th. Finally, The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Hold” and a consensus target price of $49.48.

In related news, CEO Charles Robbins sold 8,497 shares of the company’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $46.20, for a total value of $392,561.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 3,024 shares of the company’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $142,763.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,776 shares of company stock valued at $1,832,205. 0.02% of the stock is owned by insiders.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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