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Amarillo National Bank Sells 463 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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Amarillo National Bank cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.5% during the 2nd quarter, Holdings Channel reports. The firm owned 4,958 shares of the network equipment provider's stock after selling 463 shares during the period. Amarillo National Bank's holdings in Cisco Systems were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Wolff Wiese Magana LLC increased its holdings in shares of Cisco Systems by 121.8% during the second quarter. Wolff Wiese Magana LLC now owns 44,719 shares of the network equipment provider's stock worth $1,907,000 after purchasing an additional 24,556 shares during the period. Home Federal Bank of Tennessee increased its holdings in shares of Cisco Systems by 9.4% during the second quarter. Home Federal Bank of Tennessee now owns 5,278 shares of the network equipment provider's stock worth $225,000 after purchasing an additional 455 shares during the period. Joel Isaacson & Co. LLC increased its holdings in shares of Cisco Systems by 3.7% during the second quarter. Joel Isaacson & Co. LLC now owns 15,726 shares of the network equipment provider's stock worth $671,000 after purchasing an additional 561 shares during the period. McKinley Carter Wealth Services Inc. increased its holdings in shares of Cisco Systems by 3.8% during the second quarter. McKinley Carter Wealth Services Inc. now owns 42,055 shares of the network equipment provider's stock worth $1,793,000 after purchasing an additional 1,544 shares during the period. Finally, Westshore Wealth LLC increased its holdings in shares of Cisco Systems by 5.0% during the second quarter. Westshore Wealth LLC now owns 24,039 shares of the network equipment provider's stock worth $1,025,000 after purchasing an additional 1,142 shares during the period. 71.71% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the transaction, the senior vice president now owns 38,158 shares of the company's stock, valued at $1,689,636.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jeffery S. Sharritts sold 12,838 shares of the business's stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $47.86, for a total value of $614,426.68. Following the sale, the executive vice president now owns 167,532 shares of the company's stock, valued at $8,018,081.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 19,168 shares of the business's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the sale, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The disclosure for this sale can be found here. Insiders sold 56,317 shares of company stock valued at $2,612,042 over the last quarter. Insiders own 0.02% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $40.66 on Friday. The firm has a market cap of $167.07 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The firm's fifty day moving average is $45.06 and its 200-day moving average is $47.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. Cisco Systems, Inc. has a 52 week low of $40.12 and a 52 week high of $64.29.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The company had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same quarter in the previous year, the business earned $0.76 earnings per share. Cisco Systems's revenue was down .2% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems's dividend payout ratio is presently 53.90%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group increased their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, August 18th. Cowen increased their price target on shares of Cisco Systems from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, August 18th. The Goldman Sachs Group increased their price target on shares of Cisco Systems from $45.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, August 18th. Evercore ISI increased their price target on shares of Cisco Systems from $50.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, August 18th. Finally, Cowen increased their price target on shares of Cisco Systems from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.10.

Cisco Systems Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating).

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