Wilmington Savings Fund Society FSB Sells 6,727 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wilmington Savings Fund Society FSB trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 601,229 shares of the network equipment provider’s stock after selling 6,727 shares during the quarter. Cisco Systems accounts for about 0.6% of Wilmington Savings Fund Society FSB’s holdings, making the stock its 29th largest position. Wilmington Savings Fund Society FSB’s holdings in Cisco Systems were worth $35,593,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Morse Asset Management Inc purchased a new position in Cisco Systems in the 3rd quarter worth approximately $798,000. HighVista Strategies LLC purchased a new stake in Cisco Systems during the third quarter valued at about $1,698,000. GAMMA Investing LLC lifted its stake in Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems during the 3rd quarter valued at about $502,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CSCO. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays increased their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.27 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $63.25. The business’s fifty day moving average is $59.65 and its 200 day moving average is $54.87. The stock has a market capitalization of $248.01 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % 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 in the last three months. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

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.