38,895 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by American National Bank & Trust Co. VA

American National Bank & Trust Co. VA acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, Holdings Channel.com reports. The firm acquired 38,895 shares of the network equipment provider’s stock, valued at approximately $1,941,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. grew its stake in shares of Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. FIL Ltd lifted its holdings in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after buying an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after buying an additional 3,989,543 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $60.00 in a report on Monday, April 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Barclays boosted their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Finally, Oppenheimer upped their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $56.47.

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on 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 owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.19 on Thursday, hitting $47.09. The stock had a trading volume of 8,118,296 shares, compared to its average volume of 19,658,074. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company has a market capitalization of $189.72 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The firm has a 50-day moving average of $47.00 and a 200-day moving average of $48.74.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for 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 EPS. Equities analysts expect 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

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.