Citizens Business Bank Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Citizens Business Bank decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,472 shares of the network equipment provider’s stock after selling 3,307 shares during the period. Citizens Business Bank’s holdings in Cisco Systems were worth $2,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Cisco Systems by 1.1% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 42,080 shares of the network equipment provider’s stock valued at $2,262,000 after acquiring an additional 463 shares in the last quarter. Moisand Fitzgerald Tamayo LLC increased its holdings in shares of Cisco Systems by 67.6% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 1,666 shares of the network equipment provider’s stock worth $90,000 after purchasing an additional 672 shares during the period. Arthur M. Cohen & Associates LLC raised its position in shares of Cisco Systems by 24.1% in the third quarter. Arthur M. Cohen & Associates LLC now owns 6,170 shares of the network equipment provider’s stock worth $332,000 after buying an additional 1,200 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Cisco Systems by 7.0% during the third quarter. Linden Thomas Advisory Services LLC now owns 14,865 shares of the network equipment provider’s stock valued at $799,000 after buying an additional 967 shares during the period. Finally, Signet Investment Advisory Group Inc. grew its position in Cisco Systems by 0.5% during the third quarter. Signet Investment Advisory Group Inc. now owns 66,204 shares of the network equipment provider’s stock worth $3,559,000 after buying an additional 335 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 13,942 shares of the 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 sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Finally, Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. 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 stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Trading Down 1.7 %

Cisco Systems stock traded down $0.80 during mid-day trading on Tuesday, reaching $46.98. 18,531,437 shares of the company traded hands, compared to its average volume of 19,243,893. The firm’s 50 day moving average price is $48.92 and its 200 day moving average price is $49.97. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The firm has a market capitalization of $190.23 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $12.71 billion. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 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.