Legacy Private Trust Co. Has $2.52 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Legacy Private Trust Co. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 42,477 shares of the network equipment provider’s stock after selling 694 shares during the quarter. Legacy Private Trust Co.’s holdings in Cisco Systems were worth $2,515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Quarry LP increased its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the third quarter worth about $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the 3rd quarter worth about $51,000. Finally, FSA Wealth Management LLC acquired a new position in Cisco Systems during the 3rd quarter valued at about $56,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CSCO shares. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $73.00 in a report on Monday. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.95.

Check Out Our Latest Stock Analysis on Cisco Systems

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.27 during mid-day trading on Wednesday, hitting $59.20. 14,387,265 shares of the stock traded hands, compared to its average volume of 16,859,523. The business’s 50-day moving average price is $58.44 and its 200 day moving average price is $52.93. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $235.78 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

About Cisco Systems

(Free Report)

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.

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

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