Peoples Financial Services CORP. Sells 618 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Peoples Financial Services CORP. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,214 shares of the network equipment provider’s stock after selling 618 shares during the quarter. Cisco Systems makes up about 1.0% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 26th largest holding. Peoples Financial Services CORP.’s holdings in Cisco Systems were worth $2,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its stake in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after buying an additional 59,466,550 shares during the period. Norges Bank bought a new stake in Cisco Systems during the 4th quarter worth approximately $2,028,781,000. FMR LLC lifted its holdings in Cisco Systems by 21.4% during the first quarter. FMR LLC now owns 54,468,315 shares of the network equipment provider’s stock valued at $2,847,331,000 after purchasing an additional 9,614,150 shares in the last quarter. Morgan Stanley increased its stake in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after purchasing an additional 9,160,347 shares in the last quarter. Finally, Providence Capital Advisors LLC raised its position in shares of Cisco Systems by 5,222.3% during the 1st quarter. Providence Capital Advisors LLC now owns 7,883,401 shares of the network equipment provider’s stock valued at $150,806,000 after purchasing an additional 7,735,281 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.16, for a total transaction of $975,614.92. Following the sale, the chief executive officer now owns 716,191 shares of the company’s stock, valued at approximately $39,505,095.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 2,158 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $55.15, for a total transaction of $119,013.70. Following the completion of the sale, the executive vice president now owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 17,687 shares of Cisco Systems stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.16, for a total transaction of $975,614.92. Following the completion of the transaction, the chief executive officer now directly owns 716,191 shares in the company, valued at $39,505,095.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,438 shares of company stock valued at $2,948,779. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Citigroup increased their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. 51job reissued an “initiates” rating on shares of Cisco Systems in a report on Friday, June 30th. UBS Group increased their price objective on shares of Cisco Systems from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Finally, Piper Sandler lifted their price objective on shares of Cisco Systems from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.43.

Cisco Systems Trading Down 0.6 %

CSCO stock opened at $56.04 on Monday. The company has a market capitalization of $227.23 billion, a PE ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $58.19. The firm’s 50-day moving average is $54.20 and its 200 day moving average is $51.17.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.05 billion. During the same period in the previous year, the company posted $0.74 EPS. Cisco Systems’s revenue was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is currently 50.81%.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.