Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First Bancorp Inc ME

First Bancorp Inc ME cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,626 shares of the network equipment provider’s stock after selling 431 shares during the period. First Bancorp Inc ME’s holdings in Cisco Systems were worth $486,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CSCO. State Street Corp lifted its position in shares of Cisco Systems by 1.4% during the second quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock worth $9,701,554,000 after purchasing an additional 2,626,429 shares during the last quarter. Morgan Stanley lifted its position in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. FMR LLC lifted its position in shares of Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cisco Systems by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after purchasing an additional 3,087,294 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $48.11 on Friday. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The firm has a market capitalization of $194.81 billion, a PE ratio of 14.62, a P/E/G ratio of 2.21 and a beta of 0.87. The company’s 50 day simple moving average is $49.51 and its 200 day simple moving average is $50.68.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.33%. Cisco Systems’s payout ratio is 48.63%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSCO. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Barclays raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Wells Fargo & Company began coverage on shares of Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price on the stock. Piper Sandler raised their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, UBS Group raised their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.42.

Cisco Systems Company 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.