Huntington National Bank lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 887,731 shares of the network equipment provider’s stock after selling 38,969 shares during the period. Huntington National Bank’s holdings in Cisco Systems were worth $41,404,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its position in Cisco Systems by 3.1% during the fourth quarter. Sunbelt Securities Inc. now owns 222,012 shares of the network equipment provider’s stock worth $10,440,000 after purchasing an additional 6,712 shares during the last quarter. Pearl River Capital LLC bought a new stake in Cisco Systems during the 4th quarter worth about $227,000. Stillwater Investment Management LLC raised its holdings in Cisco Systems by 3.0% during the 1st quarter. Stillwater Investment Management LLC now owns 74,426 shares of the network equipment provider’s stock worth $2,926,000 after purchasing an additional 2,145 shares during the last quarter. Fulton Bank N.A. grew its position in shares of Cisco Systems by 37.2% during the 1st quarter. Fulton Bank N.A. now owns 128,997 shares of the network equipment provider’s stock worth $5,071,000 after buying an additional 34,954 shares during the period. Finally, Wiley BROS. Aintree Capital LLC grew its position in shares of Cisco Systems by 6.9% during the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 16,988 shares of the network equipment provider’s stock worth $668,000 after buying an additional 1,100 shares during the period. 71.36% of the stock is owned by hedge funds and other institutional investors.

CSCO has been the topic of a number of analyst reports. Wolfe Research assumed coverage on Cisco Systems in a research note on Friday, July 24th. They set an “outperform” rating and a $54.00 price objective on the stock. Nomura increased their price target on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. MKM Partners increased their price target on Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Nomura Instinet increased their price target on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $48.00 to $55.00 in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. Cisco Systems currently has an average rating of “Hold” and a consensus target price of $50.33.

Cisco Systems stock traded up $0.66 during mid-day trading on Friday, reaching $47.10. The stock had a trading volume of 17,706,367 shares, compared to its average volume of 16,785,004. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $56.89. The stock’s 50-day simple moving average is $46.07 and its 200-day simple moving average is $44.16. The firm has a market capitalization of $198.87 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same quarter last year, the firm posted $0.78 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were paid a $0.36 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 3.06%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.53%.

In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the completion of the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.03% of the company’s stock.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: CD Ladder

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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