Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Essex Savings Bank

Essex Savings Bank lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,758 shares of the network equipment provider’s stock after selling 754 shares during the quarter. Essex Savings Bank’s holdings in Cisco Systems were worth $2,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. FPC Investment Advisory Inc. purchased a new position in Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. JDM Financial Group LLC lifted its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market cap of $258.71 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.95 and a beta of 0.88. The company has a fifty day simple moving average of $60.86 and a 200-day simple moving average of $60.66.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.51%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSCO. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. New Street Research reiterated a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now directly owns 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the sale, the senior vice president now owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Company 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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.