First Citizens Financial Corp Has $545,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

First Citizens Financial Corp trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 10,240 shares of the network equipment provider’s stock after selling 228 shares during the period. First Citizens Financial Corp’s holdings in Cisco Systems were worth $545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abacus Wealth Partners LLC boosted its holdings in Cisco Systems by 6.0% in the third quarter. Abacus Wealth Partners LLC now owns 6,902 shares of the network equipment provider’s stock valued at $367,000 after acquiring an additional 390 shares during the last quarter. Apella Capital LLC lifted its holdings in Cisco Systems by 2.2% in the third quarter. Apella Capital LLC now owns 11,194 shares of the network equipment provider’s stock valued at $589,000 after buying an additional 242 shares during the period. Johnson & White Wealth Management LLC boosted its position in Cisco Systems by 11.5% during the third quarter. Johnson & White Wealth Management LLC now owns 13,762 shares of the network equipment provider’s stock valued at $732,000 after acquiring an additional 1,424 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in Cisco Systems by 2.4% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 110,346 shares of the network equipment provider’s stock worth $5,873,000 after acquiring an additional 2,586 shares during the period. Finally, Farmers Trust Co. boosted its position in shares of Cisco Systems by 1.6% during the 3rd quarter. Farmers Trust Co. now owns 177,147 shares of the network equipment provider’s stock valued at $9,428,000 after purchasing an additional 2,737 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSCO shares. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Finally, Barclays lowered their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $55.00.

Cisco Systems Trading Down 0.4 %

Shares of Cisco Systems stock opened at $52.43 on Friday. The stock has a fifty day moving average price of $49.48 and a 200-day moving average price of $48.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market cap of $211.23 billion, a PE ratio of 17.65, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.05%. Cisco Systems’s payout ratio is 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems 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.