Zions Bancorporation N.A. Sells 1,499 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Zions Bancorporation N.A. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,135 shares of the network equipment provider’s stock after selling 1,499 shares during the quarter. Zions Bancorporation N.A.’s holdings in Cisco Systems were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at about $25,000. Retirement Group LLC increased its holdings in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the second quarter valued at approximately $36,000. Tidemark LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $41,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the 1st quarter worth approximately $41,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.89.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.4 %

NASDAQ:CSCO opened at $49.80 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.47. The firm has a 50-day moving average price of $48.05 and a two-hundred day moving average price of $47.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $200.63 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company posted $1.01 earnings per share. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. Cisco Systems’s dividend payout ratio (DPR) is presently 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.