Norway Savings Bank Buys 1,230 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Norway Savings Bank boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.3% in the first quarter, Holdings Channel reports. The institutional investor owned 9,295 shares of the network equipment provider’s stock after buying an additional 1,230 shares during the period. Norway Savings Bank’s holdings in Cisco Systems were worth $464,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares during the last quarter. Roble Belko & Company Inc increased its position in Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Cisco Systems during the 4th quarter valued at approximately $28,685,000. Adage Capital Partners GP L.L.C. increased its position in Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after purchasing an additional 49,700 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC increased its position in Cisco Systems by 0.6% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after purchasing an additional 1,097 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $47.51 on Friday. The stock has a market cap of $191.41 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $47.06 and its two-hundred day simple moving average is $48.79.

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. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.47.

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.