Piscataqua Savings Bank Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Piscataqua Savings Bank decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,545 shares of the network equipment provider’s stock after selling 190 shares during the quarter. Cisco Systems makes up 1.3% of Piscataqua Savings Bank’s investment portfolio, making the stock its 20th biggest holding. Piscataqua Savings Bank’s holdings in Cisco Systems were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pflug Koory LLC boosted its stake in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after acquiring an additional 165 shares during the period. Beaumont Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 1.7% in the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after purchasing an additional 173 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after purchasing an additional 178 shares during the period. Aviso Wealth Management grew its stake in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after buying an additional 181 shares during the last quarter. Finally, Waypoint Capital Advisors LLC increased its position in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.23 on Monday. The firm has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm’s 50 day moving average price is $59.22 and its two-hundred day moving average price is $54.14. 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 (NASDAQ:CSCO) last issued its 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. 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 analysts’ expectations of $13.78 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup upped their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Piper Sandler raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Bank of America boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems 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.