Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,062 shares of the network equipment provider’s stock after selling 454 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Cisco Systems were worth $477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its stake in Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC increased its stake in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the last quarter. FMR LLC increased its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent analyst reports. Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated 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 sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.2 %

NASDAQ:CSCO opened at $59.55 on Thursday. The firm has a market cap of $237.17 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $59.30 and a 200 day moving average price of $54.32. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.