Ledyard National Bank trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,909 shares of the network equipment provider’s stock after selling 6,805 shares during the quarter. Cisco Systems accounts for 2.6% of Ledyard National Bank’s holdings, making the stock its 4th biggest holding. Ledyard National Bank’s holdings in Cisco Systems were worth $19,424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Evolution Wealth Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at about $33,000. Lowe Wealth Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at about $38,000. Horan Securities Inc. boosted its stake in Cisco Systems by 663.0% in the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after buying an additional 663 shares in the last quarter. Ashburton Jersey Ltd acquired a new stake in Cisco Systems in the second quarter valued at about $49,000. Finally, Lucia Wealth Services LLC boosted its stake in Cisco Systems by 72.3% in the second quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock valued at $63,000 after buying an additional 480 shares in the last quarter. 74.28% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the transaction, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wesley G. Bush acquired 10,000 shares of the stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $55.74 per share, with a total value of $557,400.00. Following the completion of the transaction, the director now directly owns 3,017 shares of the company’s stock, valued at $168,167.58. The disclosure for this purchase can be found here. Insiders have sold 95,129 shares of company stock valued at $5,159,754 over the last 90 days. 0.03% of the stock is owned by corporate insiders.

Cisco Systems stock traded up $1.08 during trading hours on Tuesday, hitting $52.62. The stock had a trading volume of 3,126,707 shares, compared to its average volume of 16,546,200. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $224.44 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.18. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The business has a 50 day moving average of $55.78.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. The firm had revenue of $12.96 billion during the quarter, compared to the consensus estimate of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were given a $0.35 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.66%. Cisco Systems’s dividend payout ratio is presently 59.83%.

Several analysts recently weighed in on the company. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, May 21st. William Blair lowered Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price objective on the stock. in a research note on Wednesday, June 12th. MKM Partners raised their price objective on Cisco Systems to $56.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Jefferies Financial Group raised their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. They noted that the move was a valuation call. Finally, Barclays assumed coverage on Cisco Systems in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $56.24.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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