FineMark National Bank & Trust Buys 9,763 Shares of Cisco Systems, Inc. (CSCO)

FineMark National Bank & Trust increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 452,360 shares of the network equipment provider’s stock after purchasing an additional 9,763 shares during the quarter. Cisco Systems comprises about 1.0% of FineMark National Bank & Trust’s holdings, making the stock its 12th largest position. FineMark National Bank & Trust’s holdings in Cisco Systems were worth $15,213,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CSCO. Richard Bernstein Advisors LLC boosted its holdings in Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock valued at $8,434,000 after purchasing an additional 47,211 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Cisco Systems by 10.4% in the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock valued at $4,789,000 after purchasing an additional 14,395 shares during the last quarter. Eads & Heald Investment Counsel boosted its holdings in Cisco Systems by 15.7% in the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after purchasing an additional 5,765 shares during the last quarter. Aviva PLC boosted its holdings in Cisco Systems by 6.5% in the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock valued at $149,343,000 after purchasing an additional 289,899 shares during the last quarter. Finally, Callahan Advisors LLC boosted its holdings in Cisco Systems by 0.3% in the second quarter. Callahan Advisors LLC now owns 256,794 shares of the network equipment provider’s stock valued at $8,038,000 after purchasing an additional 651 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

A number of research analysts recently commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $32.00 price target on shares of Cisco Systems in a report on Thursday, September 28th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target for the company. in a report on Monday, September 25th. BidaskClub raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, September 19th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.66.

In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the sale, the senior vice president now directly owns 176,418 shares in the company, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. In the last three months, insiders sold 348,643 shares of company stock worth $12,892,271. Company insiders own 0.05% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $39.69 on Wednesday. The stock has a market capitalization of $196,210.00, a P/E ratio of 20.56, a P/E/G ratio of 3.57 and a beta of 1.19. Cisco Systems, Inc. has a 1-year low of $29.80 and a 1-year high of $39.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. analysts forecast that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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