Whittier Trust Co. of Nevada Inc. Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Whittier Trust Co. of Nevada Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 167,320 shares of the network equipment provider’s stock after selling 2,606 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Cisco Systems were worth $10,324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sage Private Wealth Group LLC boosted its position in shares of Cisco Systems by 3.9% during the 1st quarter. Sage Private Wealth Group LLC now owns 8,509 shares of the network equipment provider’s stock valued at $525,000 after acquiring an additional 320 shares during the last quarter. Hager Investment Management Services LLC raised its holdings in Cisco Systems by 262.7% in the 1st quarter. Hager Investment Management Services LLC now owns 17,266 shares of the network equipment provider’s stock valued at $1,065,000 after buying an additional 12,506 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Cisco Systems by 13.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 501,153 shares of the network equipment provider’s stock worth $30,926,000 after purchasing an additional 60,984 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Cisco Systems by 265.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 173,806 shares of the network equipment provider’s stock worth $10,726,000 after purchasing an additional 126,236 shares during the period. Finally, Lokken Investment Group LLC increased its stake in Cisco Systems by 10.1% during the first quarter. Lokken Investment Group LLC now owns 29,413 shares of the network equipment provider’s stock worth $1,815,000 after purchasing an additional 2,698 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. CICC Research assumed coverage on shares of Cisco Systems in a research note on Monday. They set an “outperform” rating and a $78.00 price target on the stock. Wall Street Zen downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $65.00 to $73.00 in a report on Monday, June 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.95.

Cisco Systems Stock Down 0.2%

Cisco Systems stock opened at $67.82 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market capitalization of $268.57 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The stock’s fifty day moving average is $65.19 and its two-hundred day moving average is $61.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.42%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president owned 181,186 shares of the company’s stock, valued at $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider directly owned 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

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.