Keybank National Association OH Sells 14,928 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Keybank National Association OH reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,790,535 shares of the network equipment provider’s stock after selling 14,928 shares during the period. Keybank National Association OH’s holdings in Cisco Systems were worth $106,000,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Swedbank AB lifted its stake in shares of Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Cisco Systems by 7.4% in the third quarter. Chicago Partners Investment Group LLC now owns 26,128 shares of the network equipment provider’s stock worth $1,471,000 after purchasing an additional 1,803 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Cisco Systems by 9.8% during the third quarter. Clear Creek Financial Management LLC now owns 7,772 shares of the network equipment provider’s stock valued at $414,000 after buying an additional 695 shares during the last quarter. Pure Financial Advisors LLC boosted its stake in Cisco Systems by 5.8% in the third quarter. Pure Financial Advisors LLC now owns 11,702 shares of the network equipment provider’s stock valued at $623,000 after acquiring an additional 645 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Cisco Systems by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock valued at $2,491,000 after buying an additional 226 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. Wells Fargo & Company upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Barclays lifted their price target on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,848 shares of company stock valued at $4,767,206. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of CSCO stock opened at $63.48 on Tuesday. The firm’s 50-day moving average is $61.32 and its two-hundred day moving average is $57.06. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $252.54 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. Cisco Systems’s dividend payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.