Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lessened by Community Bank N.A.

Community Bank N.A. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,616 shares of the network equipment provider’s stock after selling 1,505 shares during the period. Cisco Systems comprises approximately 1.4% of Community Bank N.A.’s holdings, making the stock its 12th biggest position. Community Bank N.A.’s holdings in Cisco Systems were worth $10,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its position in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter worth $3,297,905,000. Northern Trust Corp increased its holdings in shares of Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $65.33 on Wednesday. The company has a 50-day moving average of $60.86 and a two-hundred day moving average of $60.66. The stock has a market cap of $258.71 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year 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 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the business posted $0.88 EPS. The company’s revenue was up 11.4% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.51%. Cisco Systems’s dividend payout ratio is 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider now owns 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, 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. Over the last ninety days, insiders have sold 72,931 shares of company stock valued at $4,671,930. Company insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CSCO. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $73.00 in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, 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.