Grove Bank & Trust Acquires 1,221 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Grove Bank & Trust boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,024 shares of the network equipment provider’s stock after purchasing an additional 1,221 shares during the quarter. Grove Bank & Trust’s holdings in Cisco Systems were worth $889,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the second 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 boosted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at $49,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 58,188 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 $3,345,228.12. Following the completion of the sale, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This represents a 20.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.7 %

Cisco Systems stock opened at $60.23 on Monday. 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 firm has a market cap of $239.88 billion, a PE ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. The stock’s 50 day simple moving average is $58.91 and its two-hundred day simple moving average is $53.57. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSCO. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. 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. Wells Fargo & Company raised their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Morgan Stanley upped their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $61.50.

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.