Cisco Systems, Inc. (NASDAQ:CSCO) Position Cut by Berkshire Bank

Berkshire Bank decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,309 shares of the network equipment provider’s stock after selling 2,001 shares during the quarter. Cisco Systems accounts for approximately 1.4% of Berkshire Bank’s holdings, making the stock its 14th largest position. Berkshire Bank’s holdings in Cisco Systems were worth $5,943,000 as of its most recent SEC filing.

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

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now directly owns 36,937 shares in the company, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on 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 approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 2.2%

Shares of CSCO stock opened at $65.51 on Tuesday. The company has a 50 day moving average of $60.72 and a 200-day moving average of $60.62. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market cap of $259.42 billion, a P/E ratio of 28.61, a PEG ratio of 4.16 and a beta of 0.88.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.50%. Cisco Systems’s payout ratio is 66.94%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.11.

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.