Adirondack Trust Co. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Adirondack Trust Co. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,415 shares of the network equipment provider’s stock after selling 373 shares during the period. Adirondack Trust Co.’s holdings in Cisco Systems were worth $2,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Quarry LP lifted its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSCO shares. Citigroup raised their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company increased their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Trading Up 1.0 %

Shares of Cisco Systems stock opened at $61.63 on Thursday. The business has a fifty day simple moving average of $59.04 and a 200-day simple moving average of $53.86. The firm has a market cap of $245.46 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 4.54 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $61.76. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.60%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

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.