HTLF Bank Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

HTLF Bank lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,023 shares of the network equipment provider’s stock after selling 1,134 shares during the quarter. HTLF Bank’s holdings in Cisco Systems were worth $6,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Trust Co. of Oklahoma bought a new stake in shares of Cisco Systems during the 3rd quarter valued at $206,000. Swedbank AB grew its holdings in Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares during the period. Zhang Financial LLC increased its position in Cisco Systems by 7.4% in the third quarter. Zhang Financial LLC now owns 44,116 shares of the network equipment provider’s stock worth $2,348,000 after buying an additional 3,046 shares in the last quarter. Richwood Investment Advisors LLC purchased a new stake in Cisco Systems in the third quarter worth about $256,000. Finally, Occidental Asset Management LLC raised its stake in shares of Cisco Systems by 7.2% in the third quarter. Occidental Asset Management LLC now owns 18,340 shares of the network equipment provider’s stock worth $976,000 after buying an additional 1,228 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.4 %

CSCO stock traded down $0.19 during midday trading on Tuesday, reaching $54.08. 20,064,762 shares of the company traded hands, compared to its average volume of 19,122,350. The firm has a market capitalization of $217.88 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.61. The business has a 50 day moving average of $50.33 and a 200-day moving average of $48.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the company earned $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. Cisco Systems’s dividend payout ratio is 53.87%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Barclays lowered their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.21.

View Our Latest Research Report on Cisco Systems

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

(Free Report)

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.

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