By otakuyassine3@gmail.com 
Greenfield Savings Bank boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,302 shares of the network equipment provider’s stock after purchasing an additional 200 shares during the period. Cisco Systems makes up 0.9% of Greenfield Savings Bank’s holdings, making the stock its 29th biggest holding. Greenfield Savings Bank’s holdings in Cisco Systems were worth $1,971,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in Cisco Systems during the 2nd quarter worth about $62,000. Brown Brothers Harriman & Co. grew its position in shares of Cisco Systems by 19.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 121,055 shares of the network equipment provider’s stock valued at $5,751,000 after buying an additional 19,338 shares during the last quarter. Keene & Associates Inc. grew its holdings in shares of Cisco Systems by 2.3% during the second quarter. Keene & Associates Inc. now owns 72,812 shares of the network equipment provider’s stock worth $3,459,000 after purchasing an additional 1,629 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Finally, Sierra Summit Advisors LLC increased its position in Cisco Systems by 7.3% during the second quarter. Sierra Summit Advisors LLC now owns 22,721 shares of the network equipment provider’s stock worth $1,079,000 after buying an additional 1,541 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of NASDAQ CSCO opened at $58.76 on Tuesday. The stock has a fifty day moving average price of $58.73 and a two-hundred day moving average price of $53.26. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The firm has a market cap of $234.03 billion, a P/E ratio of 25.22, a PEG ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio is 68.67%.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup lifted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.
Check Out Our Latest Report on Cisco Systems
Insider Activity at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 353,522 shares of company stock valued at $20,349,721. Company insiders own 0.01% of the company’s stock.
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.
Featured Articles
Receive News & Ratings for Cisco Systems Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cisco Systems and related companies with MarketBeat.com’s FREE daily email newsletter.