City Holding Co. Sells 3,097 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

City Holding Co. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,569 shares of the network equipment provider’s stock after selling 3,097 shares during the quarter. City Holding Co.’s holdings in Cisco Systems were worth $1,840,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Atomi Financial Group Inc. lifted its position in Cisco Systems by 34.8% during the third quarter. Atomi Financial Group Inc. now owns 21,740 shares of the network equipment provider’s stock valued at $1,157,000 after acquiring an additional 5,614 shares during the last quarter. Clean Yield Group lifted its holdings in shares of Cisco Systems by 14.7% during the 3rd quarter. Clean Yield Group now owns 122,670 shares of the network equipment provider’s stock valued at $6,529,000 after purchasing an additional 15,714 shares during the last quarter. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Cisco Systems in the 3rd quarter worth $206,000. Alpha Cubed Investments LLC increased its position in Cisco Systems by 1.8% during the 3rd quarter. Alpha Cubed Investments LLC now owns 425,138 shares of the network equipment provider’s stock valued at $22,626,000 after buying an additional 7,686 shares in the last quarter. Finally, Callan Family Office LLC raised its stake in Cisco Systems by 15.2% in the third quarter. Callan Family Office LLC now owns 18,948 shares of the network equipment provider’s stock valued at $1,008,000 after buying an additional 2,495 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Finally, Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Trading Up 0.4 %

Shares of Cisco Systems stock opened at $52.73 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The firm has a market capitalization of $212.44 billion, a PE ratio of 17.75, a P/E/G ratio of 4.11 and a beta of 0.83. The firm’s 50-day moving average price is $49.67 and its 200 day moving average price is $48.28.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the business’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 $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

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.