Centennial Bank AR Sells 771 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Centennial Bank AR trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,184 shares of the network equipment provider’s stock after selling 771 shares during the period. Centennial Bank AR’s holdings in Cisco Systems were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. Bank of New York Mellon Corp boosted its stake in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Legal & General Group Plc boosted its position in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the period. Wellington Management Group LLP boosted its position in Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares during the period. Dimensional Fund Advisors LP boosted its position in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $52.74 on Wednesday. The stock’s 50-day simple moving average is $49.26 and its 200 day simple moving average is $48.19. The stock has a market capitalization of $212.48 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. Research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CSCO shares. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.00.

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.