Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Eastern Bank

Eastern Bank lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,307 shares of the network equipment provider’s stock after selling 2,712 shares during the quarter. Eastern Bank’s holdings in Cisco Systems were worth $1,879,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CSCO. Global Assets Advisory LLC acquired a new position in shares of Cisco Systems in the first quarter valued at approximately $3,344,000. Brookstone Capital Management grew its position in shares of Cisco Systems by 9.4% in the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock valued at $2,749,000 after purchasing an additional 4,712 shares during the period. Sovereign Financial Group Inc. increased its stake in Cisco Systems by 16.5% in the first quarter. Sovereign Financial Group Inc. now owns 10,966 shares of the network equipment provider’s stock valued at $547,000 after purchasing an additional 1,555 shares during the last quarter. GoalVest Advisory LLC lifted its position in Cisco Systems by 31.8% during the first quarter. GoalVest Advisory LLC now owns 29,127 shares of the network equipment provider’s stock worth $1,454,000 after buying an additional 7,035 shares during the period. Finally, Key Client Fiduciary Advisors LLC boosted its position in shares of Cisco Systems by 10.2% in the first quarter. Key Client Fiduciary Advisors LLC now owns 9,654 shares of the network equipment provider’s stock worth $482,000 after acquiring an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Tigress Financial boosted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Rosenblatt Securities raised their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Barclays decreased their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $56.60 on Wednesday. The company has a market capitalization of $228.03 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The business has a 50 day simple moving average of $51.63 and a 200-day simple moving average of $48.71. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. Cisco Systems’s payout ratio is currently 53.87%.

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.