Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Ledyard National Bank

Ledyard National Bank boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 284,759 shares of the network equipment provider’s stock after purchasing an additional 1,704 shares during the period. Cisco Systems makes up about 1.5% of Ledyard National Bank’s portfolio, making the stock its 17th biggest position. Ledyard National Bank’s holdings in Cisco Systems were worth $14,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems in the third quarter valued at approximately $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $32,000. Morton Brown Family Wealth LLC raised its holdings in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,441 shares of company stock worth $972,080. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Barclays upped their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company initiated coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Trading Down 0.2 %

Shares of CSCO traded down $0.08 during mid-day trading on Monday, reaching $47.78. The stock had a trading volume of 11,597,599 shares, compared to its average volume of 19,257,299. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The business’s fifty day moving average is $48.92 and its 200 day moving average is $49.97. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The firm has a market cap of $193.47 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

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 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.