Grove Bank & Trust increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 141.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,620 shares of the network equipment provider’s stock after purchasing an additional 2,120 shares during the quarter. Grove Bank & Trust’s holdings in Cisco Systems were worth $113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Washington Trust Bank grew its stake in Cisco Systems by 2.5% during the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after purchasing an additional 2,726 shares in the last quarter. Holderness Investments Co. grew its stake in Cisco Systems by 12.1% during the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after purchasing an additional 7,186 shares in the last quarter. Pioneer Investment Management Inc. grew its stake in Cisco Systems by 5.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after purchasing an additional 408,875 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Cisco Systems by 4.1% during the 1st quarter. Congress Asset Management Co. MA now owns 147,410 shares of the network equipment provider’s stock worth $4,982,000 after purchasing an additional 5,796 shares in the last quarter. Finally, Investment House LLC grew its stake in Cisco Systems by 7.5% during the 2nd quarter. Investment House LLC now owns 85,400 shares of the network equipment provider’s stock worth $2,673,000 after purchasing an additional 5,975 shares in the last quarter. 75.32% of the stock is owned by hedge funds and other institutional investors.

CSCO has been the subject of several analyst reports. Drexel Hamilton reissued a “buy” rating and set a $39.00 target price on shares of Cisco Systems in a research note on Sunday, June 25th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a research note on Monday, June 26th. Wells Fargo & Company reissued an “outperform” rating and set a $37.50 target price on shares of Cisco Systems in a research note on Monday, June 26th. Credit Suisse Group reissued an “outperform” rating and set a $40.00 target price on shares of Cisco Systems in a research note on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $36.00 price target on shares of Cisco Systems in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $35.30.

In related news, SVP Karen Walker sold 23,110 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 in the last quarter. Company insiders own 0.11% of the company’s stock.

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Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 33.55 on Thursday. The firm has a market cap of $166.14 billion, a PE ratio of 17.66 and a beta of 1.21. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The company has a 50 day moving average price of $32.94 and a 200-day moving average price of $32.33.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.46%. Cisco Systems’s dividend payout ratio is presently 60.73%.

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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