Park National Corp OH Sells 15,299 Shares of Cisco Systems, Inc. $CSCO

Park National Corp OH reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 800,548 shares of the network equipment provider’s stock after selling 15,299 shares during the quarter. Cisco Systems comprises about 1.9% of Park National Corp OH’s portfolio, making the stock its 9th largest holding. Park National Corp OH’s holdings in Cisco Systems were worth $61,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Cisco Systems by 1.4% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after buying an additional 142 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Cisco Systems by 0.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 24,622 shares of the network equipment provider’s stock worth $1,685,000 after buying an additional 142 shares during the period. Yoder Wealth Management Inc. grew its holdings in shares of Cisco Systems by 3.8% during the third quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock valued at $270,000 after buying an additional 143 shares during the last quarter. Weaver Consulting Group increased its position in shares of Cisco Systems by 1.5% in the 3rd quarter. Weaver Consulting Group now owns 9,940 shares of the network equipment provider’s stock valued at $680,000 after acquiring an additional 145 shares during the period. Finally, KKM Financial LLC increased its position in shares of Cisco Systems by 1.9% in the 3rd quarter. KKM Financial LLC now owns 7,971 shares of the network equipment provider’s stock valued at $545,000 after acquiring an additional 145 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Cisco Systems

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Cisco Systems Price Performance

Shares of CSCO opened at $78.51 on Friday. The business’s 50-day moving average is $78.31 and its two-hundred day moving average is $74.72. The company has a market capitalization of $310.11 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.93 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $88.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Cisco Systems’s dividend payout ratio is presently 57.54%.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 7,981 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the transaction, the executive vice president directly owned 187,097 shares in the company, valued at $14,874,211.50. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the sale, the chief executive officer directly owned 671,095 shares in the company, valued at $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 46,431 shares of company stock worth $3,574,820. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSCO. Argus raised Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Cisco Systems in a report on Thursday, February 12th. Weiss Ratings restated a “buy (b)” rating on shares of Cisco Systems in a research note on Tuesday, January 27th. CICC Research lifted their target price on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Evercore upgraded Cisco Systems from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $100.00 in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $89.55.

View Our Latest Research Report on Cisco Systems

Cisco Systems Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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