Israel Discount Bank of New York Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Israel Discount Bank of New York lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% in the 4th quarter, HoldingsChannel reports. The firm owned 9,821 shares of the network equipment provider’s stock after selling 476 shares during the quarter. Israel Discount Bank of New York’s holdings in Cisco Systems were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its stake in shares of Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after buying an additional 1,790,717 shares during the period. Northern Trust Corp raised its holdings in shares of Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after purchasing an additional 1,181,327 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after purchasing an additional 3,753,165 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Cisco Systems by 3.7% in the 3rd quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock valued at $611,624,000 after buying an additional 405,699 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. Melius Research reissued a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.53.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the 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 completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were 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 directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.4 %

CSCO stock traded down $0.18 during trading on Monday, hitting $47.68. The company had a trading volume of 7,334,649 shares, compared to its average volume of 19,200,313. The business has a 50-day moving average of $48.94 and a 200-day moving average of $50.01. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The stock has a market cap of $193.07 billion, a PE ratio of 14.55, a PEG ratio of 2.76 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.71 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. Research analysts predict 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. Investors of record on Thursday, April 4th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.36%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 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.