Fulton Bank N.A. Sells 9,602 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fulton Bank N.A. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,828 shares of the network equipment provider’s stock after selling 9,602 shares during the quarter. Fulton Bank N.A.’s holdings in Cisco Systems were worth $8,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now directly owns 131,676 shares in the company, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,616 shares of company stock worth $2,640,095. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $63.85 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company’s 50 day moving average price is $59.34 and its two-hundred day moving average price is $60.17. The company has a market capitalization of $252.85 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CSCO shares. Evercore ISI increased their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.