Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,406 shares of the network equipment provider’s stock after selling 1,132 shares during the period. First Commonwealth Financial Corp PA’s holdings in Cisco Systems were worth $660,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in Cisco Systems during the first quarter worth about $840,538,000. FMR LLC grew its holdings in Cisco Systems by 10.1% during 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. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC boosted its position in Cisco Systems by 5,231.5% during the third 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Cisco Systems by 87.9% during the third quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after purchasing an additional 2,591,684 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,479 shares of company stock valued at $19,490,991 over the last quarter. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Up 1.4 %

Cisco Systems stock traded up $0.85 during trading on Wednesday, reaching $59.59. 14,209,693 shares of the company were exchanged, compared to its average volume of 21,276,684. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.64. The company has a market capitalization of $237.33 billion, a P/E ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $55.35 and its two-hundred day simple moving average is $50.32.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSCO shares. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. UBS Group increased their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

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.