Commerce Bank Acquires 16,242 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Commerce Bank lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 868,479 shares of the network equipment provider’s stock after buying an additional 16,242 shares during the quarter. Commerce Bank’s holdings in Cisco Systems were worth $44,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Delta Financial Advisors LLC lifted its holdings in Cisco Systems by 2.3% during the second quarter. Delta Financial Advisors LLC now owns 8,668 shares of the network equipment provider’s stock worth $448,000 after acquiring an additional 192 shares during the period. Pflug Koory LLC boosted its stake in Cisco Systems by 0.5% in the second quarter. Pflug Koory LLC now owns 41,514 shares of the network equipment provider’s stock valued at $2,148,000 after acquiring an additional 195 shares during the last quarter. Intercontinental Wealth Advisors LLC grew its position in shares of Cisco Systems by 1.5% during the 2nd quarter. Intercontinental Wealth Advisors LLC now owns 13,608 shares of the network equipment provider’s stock valued at $704,000 after acquiring an additional 197 shares during the period. WT Wealth Management increased its stake in shares of Cisco Systems by 3.8% during the 2nd quarter. WT Wealth Management now owns 5,490 shares of the network equipment provider’s stock worth $284,000 after purchasing an additional 200 shares during the last quarter. Finally, Mezzasalma Advisors LLC raised its holdings in shares of Cisco Systems by 1.8% in the 2nd quarter. Mezzasalma Advisors LLC now owns 11,370 shares of the network equipment provider’s stock worth $588,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the sale, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 17,687 shares of Cisco Systems stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the sale, the chief executive officer now directly owns 716,191 shares in the company, valued at $39,505,095.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,859 shares of company stock worth $2,309,352. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSCO. BNP Paribas initiated coverage on Cisco Systems in a research report on Thursday, July 20th. They set an “underperform” rating and a $45.00 price target on the stock. UBS Group boosted their price target on shares of Cisco Systems from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Morgan Stanley raised their price objective on shares of Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a report on Thursday, August 17th. Finally, StockNews.com began coverage on Cisco Systems in a report on Thursday, October 5th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.58.

Cisco Systems Stock Performance

CSCO traded up $0.07 during mid-day trading on Wednesday, reaching $53.20. 1,059,194 shares of the company traded hands, compared to its average volume of 17,957,027. The stock has a market capitalization of $215.72 billion, a P/E ratio of 17.31, a P/E/G ratio of 2.37 and a beta of 0.98. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. Cisco Systems, Inc. has a 52-week low of $43.89 and a 52-week high of $58.19. The company’s fifty day moving average price is $54.30 and its 200-day moving average price is $52.05.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.57 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.93%. Cisco Systems’s payout ratio is 50.81%.

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 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.