Indiana Trust & Investment Management Co Has $370,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Indiana Trust & Investment Management Co cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% during the 4th quarter, HoldingsChannel reports. The firm owned 6,253 shares of the network equipment provider’s stock after selling 540 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Cisco Systems were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Highline Wealth Partners LLC increased its stake 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 in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter valued at approximately $40,000. Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $49,000. Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems during the third quarter worth $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $56,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CSCO shares. Piper Sandler upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.72.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at $12,596,059. The trade was a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Down 0.6 %

Cisco Systems stock opened at $62.43 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50-day simple moving average of $59.78 and a 200 day simple moving average of $55.21. The stock has a market capitalization of $248.64 billion, a P/E ratio of 26.79, a PEG ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $63.25.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

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.