Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Community Bank N.A.

Community Bank N.A. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,121 shares of the network equipment provider’s stock after selling 2,311 shares during the quarter. Cisco Systems accounts for approximately 1.3% of Community Bank N.A.’s portfolio, making the stock its 13th largest holding. Community Bank N.A.’s holdings in Cisco Systems were worth $10,012,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new position in Cisco Systems during the fourth quarter worth approximately $31,000. Highline Wealth Partners LLC increased its position in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSCO. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 in the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $60.30 on Friday. The business’s 50-day moving average price is $61.95 and its two-hundred day moving average price is $58.11. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a market cap of $239.89 billion, a P/E ratio of 26.33, a PEG ratio of 4.16 and a beta of 0.79. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.72%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.