Piscataqua Savings Bank Purchases 367 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Piscataqua Savings Bank raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,912 shares of the network equipment provider’s stock after purchasing an additional 367 shares during the period. Cisco Systems makes up about 1.4% of Piscataqua Savings Bank’s investment portfolio, making the stock its 19th biggest holding. Piscataqua Savings Bank’s holdings in Cisco Systems were worth $1,599,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC increased its stake in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $30,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSCO. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Evercore ISI raised their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $66.06 on Friday. The stock has a fifty day moving average price of $59.61 and a 200-day moving average price of $60.34. The company has a market cap of $261.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is presently 66.94%.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock worth $4,564,439 over the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems Company Profile

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.