Essex Savings Bank Acquires 602 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Essex Savings Bank increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,232 shares of the network equipment provider’s stock after purchasing an additional 602 shares during the period. Essex Savings Bank’s holdings in Cisco Systems were worth $1,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cisco Systems during the 3rd quarter worth $27,000. Valued Wealth Advisors LLC bought a new position in Cisco Systems in the fourth quarter valued at about $32,000. Fortis Capital Advisors LLC bought a new position in Cisco Systems in the fourth quarter valued at about $34,000. Hibernia Wealth Partners LLC bought a new position in Cisco Systems in the third quarter valued at about $42,000. Finally, VitalStone Financial LLC bought a new position in Cisco Systems in the second quarter valued at about $45,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.2 %

NASDAQ CSCO traded up $0.08 during trading hours on Monday, hitting $49.99. 3,840,729 shares of the company’s stock were exchanged, compared to its average volume of 19,664,895. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The stock has a 50-day simple moving average of $49.73 and a 200 day simple moving average of $50.80. The firm has a market cap of $202.42 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.26 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 47.42%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSCO. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Melius Research reiterated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research report on Monday, January 8th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group increased their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company initiated coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.42.

View Our Latest Analysis on Cisco Systems

Cisco Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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