Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Chemung Canal Trust Co.

Chemung Canal Trust Co. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 193.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,115 shares of the network equipment provider's stock after acquiring an additional 36,322 shares during the quarter. Chemung Canal Trust Co.'s holdings in Cisco Systems were worth $3,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Norges Bank acquired a new position in Cisco Systems during the fourth quarter worth about $3,297,905,000. FMR LLC grew its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the 4th quarter valued at $413,491,000. GAMMA Investing LLC grew its holdings in Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after buying an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Cisco Systems by 187.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after buying an additional 4,880,747 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares in the company, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Evercore ISI boosted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Stock Down 0.7%

CSCO traded down $0.51 on Thursday, hitting $68.76. 14,970,647 shares of the company were exchanged, compared to its average volume of 20,383,426. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a market cap of $272.29 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $64.84 and a two-hundred day moving average price of $61.75.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the firm posted $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

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.