First United Bank & Trust Sells 1,232 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First United Bank & Trust decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 24,416 shares of the network equipment provider’s stock after selling 1,232 shares during the period. First United Bank & Trust’s holdings in Cisco Systems were worth $1,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% during 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. Highline Wealth Partners LLC boosted its stake in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $49,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup increased their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday. Bank of America upped their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Tigress Financial raised their price target 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. Finally, UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 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. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % 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 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $60.23 on Tuesday. The business has a 50-day simple moving average of $58.91 and a two-hundred day simple moving average of $53.61. The stock has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.48 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.