City State Bank Sells 241 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

City State Bank lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 5.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,527 shares of the network equipment provider’s stock after selling 241 shares during the quarter. City State Bank’s holdings in Cisco Systems were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $32,000. Delos Wealth Advisors LLC increased its position in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at $33,000. Morton Brown Family Wealth LLC lifted its position in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its stake in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock traded up $0.57 during mid-day trading on Friday, hitting $47.29. 65,576,288 shares of the stock were exchanged, compared to its average volume of 17,527,716. The business has a fifty day moving average price of $47.14 and a 200 day moving average price of $48.84. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a market capitalization of $190.52 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.71 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 over the last three months. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. Wells Fargo & Company boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $60.00 in a research note on Monday, April 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays raised their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $56.47.

View Our Latest Stock Analysis on Cisco Systems

Cisco Systems 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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