Trust Co. of Virginia VA Has $13.80 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Trust Co. of Virginia VA lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 276,394 shares of the network equipment provider’s stock after selling 1,340 shares during the period. Trust Co. of Virginia VA’s holdings in Cisco Systems were worth $13,795,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CSCO. Samalin Investment Counsel LLC raised its holdings in shares of Cisco Systems by 14.1% during the 3rd quarter. Samalin Investment Counsel LLC now owns 4,523 shares of the network equipment provider’s stock worth $243,000 after buying an additional 558 shares in the last quarter. Private Advisory Group LLC grew its position in Cisco Systems by 7.2% during the 3rd quarter. Private Advisory Group LLC now owns 4,664 shares of the network equipment provider’s stock worth $251,000 after acquiring an additional 314 shares during the last quarter. Bank of Nova Scotia grew its position in Cisco Systems by 9.7% during the 3rd quarter. Bank of Nova Scotia now owns 489,244 shares of the network equipment provider’s stock worth $26,302,000 after acquiring an additional 43,069 shares during the last quarter. Morningstar Investment Services LLC grew its position in Cisco Systems by 30.3% during the 3rd quarter. Morningstar Investment Services LLC now owns 15,343 shares of the network equipment provider’s stock worth $827,000 after acquiring an additional 3,567 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank grew its position in Cisco Systems by 92.4% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 33,518 shares of the network equipment provider’s stock worth $1,802,000 after acquiring an additional 16,098 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research reports. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective on the stock. Barclays upped their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems Stock Up 0.1 %

CSCO stock traded up $0.06 during trading on Friday, reaching $47.51. 23,921,057 shares of the stock were exchanged, compared to its average volume of 20,878,226. The firm’s 50 day moving average is $47.06 and its 200 day moving average is $48.79. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month 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. The firm has a market cap of $191.41 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85.

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

Cisco Systems Dividend Announcement

The business 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. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last ninety days. 0.02% of the stock is currently owned by insiders.

About Cisco Systems

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.