Atlantic Union Bankshares Corp Sells 1,532 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Atlantic Union Bankshares Corp reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,932 shares of the network equipment provider’s stock after selling 1,532 shares during the period. Cisco Systems accounts for 0.9% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 25th largest position. Atlantic Union Bankshares Corp’s holdings in Cisco Systems were worth $10,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new position in Cisco Systems in the fourth quarter worth about $32,000. Delos Wealth Advisors LLC increased its stake in shares of Cisco Systems by 1,666.7% during the fourth 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 in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC increased its stake in shares of Cisco Systems by 41.9% during the fourth 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 in the last quarter. Finally, Bourgeon Capital Management LLC increased its stake in shares of Cisco Systems by 3,500.0% during the fourth 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 in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,106 shares of company stock worth $1,908,923. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.06 on Friday, hitting $47.51. 23,920,223 shares of the stock traded hands, compared to its average volume of 19,760,148. The firm has a market cap of $191.41 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.71 and a beta of 0.85. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The firm has a 50 day simple moving average of $47.06 and a two-hundred day simple moving average of $48.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CSCO shares. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company 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. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.47.

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.