First City Capital Management Inc. Sells 325 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First City Capital Management Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,300 shares of the network equipment provider’s stock after selling 325 shares during the period. First City Capital Management Inc.’s holdings in Cisco Systems were worth $1,024,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CSCO. First Citizens Financial Corp boosted its position in shares of Cisco Systems by 8.8% in the fourth quarter. First Citizens Financial Corp now owns 11,140 shares of the network equipment provider’s stock valued at $659,000 after acquiring an additional 900 shares during the period. GAMMA Investing LLC boosted its holdings in Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares during the period. Versant Capital Management Inc grew its position in Cisco Systems by 25.6% in the 4th quarter. Versant Capital Management Inc now owns 7,624 shares of the network equipment provider’s stock worth $451,000 after purchasing an additional 1,556 shares during the last quarter. First Financial Bank Trust Division raised its position in shares of Cisco Systems by 0.9% during the fourth quarter. First Financial Bank Trust Division now owns 53,924 shares of the network equipment provider’s stock valued at $3,192,000 after buying an additional 466 shares during the last quarter. Finally, Legacy Wealth Management LLC MS bought a new stake in shares of Cisco Systems in the third quarter valued at about $206,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CSCO shares. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Citigroup increased their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Morgan Stanley raised their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were 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. This represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.7 %

Shares of Cisco Systems stock traded up $0.42 on Friday, hitting $59.12. The company had a trading volume of 7,780,373 shares, compared to its average volume of 11,851,125. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a 50-day moving average of $58.24 and a 200-day moving average of $52.58. The firm has a market capitalization of $235.46 billion, a P/E ratio of 25.37, a P/E/G ratio of 4.37 and a beta of 0.85.

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

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 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.