Greenfield Savings Bank Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Greenfield Savings Bank boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,711 shares of the network equipment provider’s stock after purchasing an additional 771 shares during the quarter. Greenfield Savings Bank’s holdings in Cisco Systems were worth $1,486,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Central Bank & Trust Co. lifted its position in shares of Cisco Systems by 1.9% during the 1st quarter. Central Bank & Trust Co. now owns 10,930 shares of the network equipment provider’s stock worth $571,000 after purchasing an additional 204 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its holdings in Cisco Systems by 1.6% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 13,648 shares of the network equipment provider’s stock valued at $713,000 after acquiring an additional 211 shares in the last quarter. Waddell & Associates LLC raised its holdings in Cisco Systems by 0.9% in the 4th quarter. Waddell & Associates LLC now owns 24,527 shares of the network equipment provider’s stock valued at $1,168,000 after acquiring an additional 213 shares in the last quarter. Stillwater Investment Management LLC raised its holdings in Cisco Systems by 0.3% in the 1st quarter. Stillwater Investment Management LLC now owns 73,720 shares of the network equipment provider’s stock valued at $3,854,000 after acquiring an additional 214 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Cisco Systems by 0.5% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 40,473 shares of the network equipment provider’s stock valued at $2,116,000 after acquiring an additional 215 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now owns 281,493 shares in the company, valued at approximately $14,257,620.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Charles Robbins sold 17,687 shares of Cisco Systems stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.16, for a total transaction of $975,614.92. Following the completion of the transaction, the chief executive officer now owns 716,191 shares in the company, valued at $39,505,095.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 2,579 shares of Cisco Systems stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the transaction, the chief financial officer now owns 281,493 shares of the company’s stock, valued at approximately $14,257,620.45. The disclosure for this sale can be found here. Insiders have sold 54,438 shares of company stock valued at $2,948,779 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSCO. Citigroup increased their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Morgan Stanley increased their price target on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 17th. Bank of America increased their price target on Cisco Systems from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $58.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. Finally, BNP Paribas started coverage on Cisco Systems in a research report on Thursday, July 20th. They set an “underperform” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $59.43.

Cisco Systems Stock Performance

CSCO stock opened at $56.04 on Friday. The business’s fifty day moving average is $54.10 and its 200-day moving average is $51.08. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The company has a market cap of $227.23 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97. Cisco Systems, Inc. has a twelve month low of $38.60 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.05 billion. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, October 3rd. Cisco Systems’s payout ratio is presently 50.81%.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.