Exchange Bank Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Exchange Bank reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,981 shares of the network equipment provider’s stock after selling 420 shares during the period. Exchange Bank’s holdings in Cisco Systems were worth $598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the fourth quarter worth about $32,000. Delos Wealth Advisors LLC grew its position in shares of 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 valued at $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC grew its position in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CSCO shares. Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Finally, BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.47.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. In the last three months, insiders sold 41,106 shares of company stock valued at $1,908,923. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.3 %

Cisco Systems stock traded down $0.12 during midday trading on Wednesday, hitting $47.26. 3,341,932 shares of the stock were exchanged, compared to its average volume of 21,147,024. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The firm has a market cap of $190.40 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.74 and a beta of 0.85. 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 company has a 50 day moving average price of $47.11 and a two-hundred day moving average price of $48.83.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Cisco Systems 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.