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% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 934,620 shares of the network equipment provider’s stock after selling 90,911 shares during the quarter. Cisco Systems comprises about 2.0% of Park National Corp OH’s investment portfolio, making the stock its 9th largest holding. Park National Corp OH’s holdings in Cisco Systems were worth $55,330,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CSCO shares. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup raised their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Bank of America boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays increased their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $60.95.

Cisco Systems Price Performance

CSCO opened at $58.93 on Wednesday. The stock has a fifty day moving average price of $58.44 and a 200 day moving average price of $52.93. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The stock has a market cap of $234.70 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 4.37 and a beta of 0.84.

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

Cisco Systems Announces Dividend

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

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.