Norway Savings Bank lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% in the third quarter, HoldingsChannel reports. The fund owned 6,666 shares of the network equipment provider’s stock after selling 750 shares during the quarter. Norway Savings Bank’s holdings in Cisco Systems were worth $263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First National Bank Sioux Falls acquired a new position in Cisco Systems during the third quarter worth $207,000. Red Door Wealth Management LLC increased its position in shares of Cisco Systems by 1.6% during the third quarter. Red Door Wealth Management LLC now owns 44,700 shares of the network equipment provider’s stock worth $1,762,000 after acquiring an additional 691 shares in the last quarter. Strategic Investment Advisors MI raised its holdings in shares of Cisco Systems by 112.9% in the 3rd quarter. Strategic Investment Advisors MI now owns 33,840 shares of the network equipment provider’s stock worth $1,333,000 after acquiring an additional 17,942 shares during the last quarter. Ridgewood Investments LLC lifted its position in Cisco Systems by 20.3% in the 3rd quarter. Ridgewood Investments LLC now owns 23,702 shares of the network equipment provider’s stock valued at $934,000 after acquiring an additional 3,993 shares in the last quarter. Finally, Paulson Wealth Management Inc. boosted its stake in Cisco Systems by 13.4% during the 3rd quarter. Paulson Wealth Management Inc. now owns 8,395 shares of the network equipment provider’s stock valued at $331,000 after purchasing an additional 995 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

CSCO stock opened at $40.16 on Friday. The stock has a fifty day moving average of $39.95 and a 200-day moving average of $43.30. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $50.28. The company has a market capitalization of $170.01 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.16 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The business had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same period in the prior year, the firm earned $0.83 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post 2.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

In other Cisco Systems news, CFO Kelly A. Kramer sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total value of $1,890,450.00. Also, EVP Irving Tan sold 4,141 shares of Cisco Systems stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $42.08, for a total value of $174,253.28. Following the transaction, the executive vice president now directly owns 125,860 shares of the company’s stock, valued at approximately $5,296,188.80. The disclosure for this sale can be found here. Insiders sold a total of 60,166 shares of company stock valued at $2,528,248 over the last quarter. 0.03% of the stock is owned by company insiders.

A number of research analysts have recently weighed in on CSCO shares. ValuEngine lowered Cisco Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Goldman Sachs Group restated a “neutral” rating and set a $45.00 price objective on shares of Cisco Systems in a research note on Thursday, August 13th. Wolfe Research lowered shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 target price for the company. in a research note on Friday, September 18th. UBS Group assumed coverage on shares of Cisco Systems in a research report on Wednesday, September 23rd. They set a “neutral” rating and a $41.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company. Cisco Systems currently has an average rating of “Hold” and a consensus price target of $47.45.

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 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.

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

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