Stock Yards Bank & Trust Co. Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Stock Yards Bank & Trust Co. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,682 shares of the network equipment provider’s stock after selling 10,658 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Cisco Systems were worth $6,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems during the third quarter valued at about $27,000. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems during the fourth quarter valued at about $32,000. Morton Brown Family Wealth LLC grew its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. UBS Group boosted their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Finally, Morgan Stanley started coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Stock Up 0.1 %

NASDAQ CSCO traded up $0.03 on Monday, hitting $48.35. 6,708,146 shares of the stock traded hands, compared to its average volume of 19,341,523. The stock has a 50-day moving average of $49.07 and a 200 day moving average of $50.20. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a market capitalization of $195.78 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Cisco Systems’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.31%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is presently 48.63%.

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. 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.