Norway Savings Bank Has $152,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)
Norway Savings Bank maintained its position in Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, Holdings Channel reports. The firm owned 4,858 shares of the network equipment provider’s stock at the end of the second quarter. Norway Savings Bank’s holdings in Cisco Systems were worth $152,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of CSCO. Clean Yield Group raised its position in shares of Cisco Systems by 1.8% in the second quarter. Clean Yield Group now owns 222,908 shares of the network equipment provider’s stock worth $7,004,000 after buying an additional 3,975 shares in the last quarter. Peoples Financial Services CORP. raised its position in Cisco Systems by 3.5% in the second quarter. Peoples Financial Services CORP. now owns 39,550 shares of the network equipment provider’s stock valued at $1,238,000 after buying an additional 1,325 shares during the period. Harwood Advisory Group LLC raised its position in Cisco Systems by 68.8% in the second quarter. Harwood Advisory Group LLC now owns 26,366 shares of the network equipment provider’s stock valued at $825,000 after buying an additional 10,743 shares during the period. Winslow Evans & Crocker Inc. raised its position in Cisco Systems by 12.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 40,313 shares of the network equipment provider’s stock valued at $1,262,000 after buying an additional 4,559 shares during the period. Finally, LVM Capital Management Ltd. MI raised its position in Cisco Systems by 1.7% in the second quarter. LVM Capital Management Ltd. MI now owns 445,568 shares of the network equipment provider’s stock valued at $13,946,000 after buying an additional 7,509 shares during the period. Institutional investors and hedge funds own 75.30% of the company’s stock.
Cisco Systems, Inc. (NASDAQ CSCO) opened at 31.90 on Thursday. The company has a 50-day moving average of $31.55 and a 200 day moving average of $32.39. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The firm has a market cap of $159.50 billion, a price-to-earnings ratio of 16.19 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 58.29%.
Several research firms have recently commented on CSCO. Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Credit Suisse Group raised shares of Cisco Systems from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. Deutsche Bank AG increased their target price on shares of Cisco Systems from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 23rd. Finally, Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Twelve investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $35.32.
In other news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 396,179 shares of company stock worth $12,503,407. Insiders own 0.11% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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