Bangor Savings Bank raised its holdings in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,052 shares of the network equipment provider’s stock after buying an additional 4,184 shares during the quarter. Bangor Savings Bank’s holdings in Cisco Systems were worth $ 2,679,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CSCO. Legacy Private Trust Co. grew its holdings in shares of Cisco Systems by 0.3% in the fourth quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock valued at $ 7,596,000 after purchasing an additional 349 shares during the period. Tobias Financial Advisors Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $ 1,062,000. Pure Financial Advisors LLC grew its holdings in shares of Cisco Systems by 4.9% in the first quarter. Pure Financial Advisors LLC now owns 6,195 shares of the network equipment provider’s stock valued at $ 345,000 after purchasing an additional 287 shares during the period. Spire Wealth Management grew its holdings in shares of Cisco Systems by 8.6% in the fourth quarter. Spire Wealth Management now owns 86,355 shares of the network equipment provider’s stock valued at $ 5,468,000 after purchasing an additional 6,867 shares during the period. Finally, Wedmont Private Capital purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $ 1,159,000. 73.18% of the stock is owned by institutional investors and hedge funds.
In related news, COO Maria Martinez sold 3,628 shares of Cisco Systems stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $ 43.34, for a total value of $ 157,237.52. Following the transaction, the chief operating officer now directly owns 295,305 shares in the company, valued at approximately $ 12,798,518.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction on Monday, June 13th. The shares were sold at an average price of $ 43.10, for a total transaction of $ 26,161.70. Following the completion of the transaction, the senior vice president now owns 79,855 shares in the company, valued at $ 3,441,750.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,326 shares of company stock worth $ 1,103,159. Insiders own 0.02% of the company stock.
Shares of Cisco Systems stock opened at $ 44.10 on Friday. The firm has a market capitalization of $ 182.62 billion, a P / E ratio of 15.47, a P / E / G ratio of 2.21 and a beta of 0.99. Cisco Systems, Inc. has a 52 week low of $ 41.02 and a 52 week high of $ 64.29. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $ 46.94 and its two-hundred day moving average is $ 53.57.
Cisco Systems (NASDAQ: CSCO – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $ 0.87 EPS for the quarter, beating the consensus estimate of $ 0.86 by $ 0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period last year, the company earned $ 0.75 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 2.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be given a dividend of $ 0.38 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $ 1.52 dividend on an annualized basis and a dividend yield of 3.45%. Cisco Systems dividend payout ratio (DPR) is presently 53.33%.
A number of brokerages recently issued reports on CSCO. Credit Suisse Group dropped their price target on shares of Cisco Systems from $ 72.00 to $ 60.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cisco Systems from $ 59.00 to $ 51.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $ 65.00 to $ 52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Morgan Stanley decreased their target price on shares of Cisco Systems from $ 59.00 to $ 46.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Finally, Wells Fargo & Company reduced their target price on shares of Cisco Systems from $ 65.00 to $ 52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $ 55.05.
Cisco Systems Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and / or store data.
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