Fulton Bank N.A. Has $8.67 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Fulton Bank N.A. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 146,430 shares of the network equipment provider’s stock after selling 11,458 shares during the period. Fulton Bank N.A.’s holdings in Cisco Systems were worth $8,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CSCO. Quarry LP boosted its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the third quarter valued at $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.04 during mid-day trading on Wednesday, hitting $58.89. 4,508,517 shares of the company’s stock traded hands, compared to its average volume of 14,944,818. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The stock has a market cap of $234.54 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 4.37 and a beta of 0.84. The firm has a 50 day simple moving average of $58.44 and a two-hundred day simple moving average of $52.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CSCO. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $73.00 in a research note on Monday. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Citigroup lifted their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.95.

Cisco Systems Company 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.