First National Bank of Omaha Has $4.94 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

First National Bank of Omaha lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 92,828 shares of the network equipment provider’s stock after selling 4,040 shares during the period. First National Bank of Omaha’s holdings in Cisco Systems were worth $4,940,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CSCO. Dunhill Financial LLC increased its position in shares of Cisco Systems by 145.4% during the 3rd quarter. Dunhill Financial LLC now owns 1,654 shares of the network equipment provider’s stock worth $88,000 after purchasing an additional 980 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC increased its holdings in Cisco Systems by 2.7% during the third quarter. Bontempo Ohly Capital Mgmt LLC now owns 80,435 shares of the network equipment provider’s stock worth $4,281,000 after buying an additional 2,082 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Cisco Systems by 1.3% during the third quarter. Orion Portfolio Solutions LLC now owns 307,526 shares of the network equipment provider’s stock worth $16,367,000 after acquiring an additional 4,038 shares in the last quarter. Zacks Investment Management lifted its stake in Cisco Systems by 2.9% in the third quarter. Zacks Investment Management now owns 1,958,913 shares of the network equipment provider’s stock valued at $104,253,000 after acquiring an additional 54,940 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Cisco Systems by 79.6% in the 3rd 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 acquiring an additional 3,975,028 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSCO. Wells Fargo & Company upped their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Citigroup lifted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Cisco Systems Trading Down 0.2 %

Shares of CSCO stock opened at $59.89 on Friday. The stock has a 50 day simple moving average of $56.53 and a 200 day simple moving average of $50.94. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market cap of $238.53 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 4.44 and a beta of 0.85.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.99 % 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, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were 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 in the company, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,860 shares of company stock worth $20,231,558. 0.01% of the stock is currently owned by corporate 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.