Raymond James Trust N.A. Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Raymond James Trust N.A. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 522,754 shares of the network equipment provider’s stock after selling 60,248 shares during the quarter. Raymond James Trust N.A.’s holdings in Cisco Systems were worth $27,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Cisco Systems during the 2nd quarter worth $25,000. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Citigroup raised their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Morgan Stanley lifted their price target on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Tigress Financial increased their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,858 shares of company stock worth $19,661,157. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $57.59 on Friday. The firm has a market capitalization of $229.81 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. The stock’s fifty day moving average is $54.84 and its 200-day moving average is $50.05. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.