Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Raised by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 108,269 shares of the network equipment provider’s stock after purchasing an additional 9,288 shares during the period. Cisco Systems accounts for approximately 0.8% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 29th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in Cisco Systems were worth $5,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Valued Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $33,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC boosted its stake in Cisco Systems by 3,500.0% during the 4th 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. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.6 %

NASDAQ CSCO opened at $45.97 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company’s 50 day simple moving average is $47.28 and its 200 day simple moving average is $48.87. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The company has a market capitalization of $185.20 billion, a P/E ratio of 15.48, a PEG ratio of 2.65 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last 90 days. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research note on Monday, May 13th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Oppenheimer boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Finally, Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $56.47.

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.