Moody National Bank Trust Division Sells 9,802 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Moody National Bank Trust Division lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 11.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,658 shares of the network equipment provider’s stock after selling 9,802 shares during the quarter. Moody National Bank Trust Division’s holdings in Cisco Systems were worth $4,274,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Legacy Private Trust Co. increased its stake in shares of Cisco Systems by 0.3% in the 4th quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock valued at $7,596,000 after acquiring an additional 349 shares in the last quarter. Tobias Financial Advisors Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at $1,062,000. Spire Wealth Management grew its position in Cisco Systems by 8.6% in the 4th quarter. Spire Wealth Management now owns 86,355 shares of the network equipment provider’s stock valued at $5,468,000 after purchasing an additional 6,867 shares during the period. Wedmont Private Capital acquired a new stake in Cisco Systems in the 4th quarter valued at $1,159,000. Finally, Fundamentun LLC grew its position in Cisco Systems by 5.2% in the 4th quarter. Fundamentun LLC now owns 85,762 shares of the network equipment provider’s stock valued at $5,435,000 after purchasing an additional 4,236 shares during the period. Institutional investors own 73.18% of the company’s stock.

In other news, COO Maria Martinez sold 4,674 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.33, for a total transaction of $202,524.42. Following the sale, the chief operating officer now directly owns 286,033 shares in the company, valued at $12,393,809.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Prat Bhatt sold 607 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the sale, the senior vice president now owns 79,855 shares in the company, valued at $3,441,750.50. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock worth $1,103,159 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Several research firms recently issued reports on CSCO. Barclays reduced their price target on shares of Cisco Systems from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Jefferies Financial Group reduced their price target on shares of Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Oppenheimer reduced their price target on shares of Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. TheStreet downgraded shares of Cisco Systems from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. Finally, UBS Group cut their price objective on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.05.

Shares of NASDAQ:CSCO opened at $43.57 on Thursday. The company’s 50-day moving average is $47.24 and its 200 day moving average is $53.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The company has a market capitalization of $180.42 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a fifty-two week low of $41.02 and a fifty-two week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the previous year, the company posted $0.75 EPS. As a group, research analysts predict that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.33%.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

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

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