Sanibel Captiva Trust Company Inc. Sells 5,934 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sanibel Captiva Trust Company Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 113,857 shares of the network equipment provider’s stock after selling 5,934 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Cisco Systems were worth $6,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Two Sigma Advisers LP lifted its holdings in Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares during the period. National Bank of Canada FI increased its position in shares of Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after buying an additional 3,975,028 shares during the period. Finally, State Street Corp lifted its holdings in shares of Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO opened at $60.23 on Friday. The firm has a market capitalization of $239.88 billion, a P/E ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average of $58.87 and a 200 day moving average of $53.43.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

A number of research firms recently weighed in on CSCO. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.50.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

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.