Canandaigua National Trust Co of Florida Sells 12,976 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Canandaigua National Trust Co of Florida lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 65.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,940 shares of the network equipment provider's stock after selling 12,976 shares during the quarter. Canandaigua National Trust Co of Florida's holdings in Cisco Systems were worth $428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC lifted its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter worth about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems during the 4th quarter worth about $31,000. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the transaction, the senior vice president now directly owns 36,937 shares of the company's stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president now directly owns 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $68.65 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.22. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The business's 50-day moving average price is $62.57 and its two-hundred day moving average price is $61.12. The stock has a market cap of $271.85 billion, a PE ratio of 28.02, a P/E/G ratio of 4.11 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 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 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.53.

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.

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