Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by City State Bank

City State Bank grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,365 shares of the network equipment provider’s stock after buying an additional 474 shares during the quarter. City State Bank’s holdings in Cisco Systems were worth $258,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CSCO. Quarry LP raised its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the third quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Cisco Systems during the third quarter worth $51,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.28.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last quarter. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $58.76 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The stock has a market capitalization of $234.03 billion, a P/E ratio of 25.22, a PEG ratio of 4.37 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $58.73 and its 200 day moving average price is $53.26.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.