City State Bank Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

City State Bank raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,365 shares of the network equipment provider’s stock after buying an additional 474 shares during the quarter. City State Bank’s holdings in Cisco Systems were worth $258,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $798,000. Citizens Financial Group Inc. RI lifted its stake in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares during the last quarter. HighVista Strategies LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $1,698,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Up 0.0 %

CSCO opened at $58.76 on Tuesday. The business’s 50-day simple moving average is $58.73 and its 200-day simple moving average is $53.26. The company has a market cap of $234.03 billion, a P/E ratio of 25.22, a PEG ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23.

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

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Tigress Financial increased their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.28.

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.