Park National Corp OH Sells 90,911 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Park National Corp OH reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 934,620 shares of the network equipment provider’s stock after selling 90,911 shares during the quarter. Cisco Systems accounts for approximately 2.0% of Park National Corp OH’s holdings, making the stock its 9th biggest position. Park National Corp OH’s holdings in Cisco Systems were worth $55,330,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $56,000. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CSCO shares. Morgan Stanley raised their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company upped their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.95.

Cisco Systems Stock Up 0.3 %

Shares of NASDAQ CSCO opened at $58.93 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. The firm’s 50-day simple moving average is $58.44 and its 200 day simple moving average is $52.93. 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 market cap of $234.70 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.