CHICAGO TRUST Co NA Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

CHICAGO TRUST Co NA trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 38,308 shares of the network equipment provider’s stock after selling 10,739 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Cisco Systems were worth $1,912,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Valued Wealth Advisors LLC bought a new position in Cisco Systems during the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC grew its holdings in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems during the 4th quarter valued at about $33,000. Morton Brown Family Wealth LLC grew its holdings in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Monday, May 13th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. Finally, Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $0.10 during midday trading on Monday, reaching $47.19. The company had a trading volume of 5,713,896 shares, compared to its average volume of 19,709,104. The business’s 50-day simple moving average is $47.14 and its 200 day simple moving average is $48.84. The stock has a market cap of $190.12 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.71 and a beta of 0.85. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.39%. Cisco Systems’s payout ratio is currently 53.87%.

Cisco Systems 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.