Farmers Trust Co. Has $10.35 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Farmers Trust Co. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,764 shares of the network equipment provider's stock after selling 6,030 shares during the quarter. Cisco Systems accounts for 1.9% of Farmers Trust Co.'s investment portfolio, making the stock its 6th largest position. Farmers Trust Co.'s holdings in Cisco Systems were worth $10,353,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Navigoe LLC purchased a new position in Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new position in Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC increased its holdings 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 valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter valued at about $30,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock worth $2,640,095 in the last three months. Insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSCO. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. UBS Group boosted their price target on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Down 0.4%

Shares of CSCO traded down $0.24 during mid-day trading on Friday, reaching $62.81. The company had a trading volume of 25,829,006 shares, compared to its average volume of 20,244,721. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market capitalization of $248.73 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The firm has a 50-day moving average price of $59.30 and a 200 day moving average price of $60.10. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the business earned $0.88 EPS. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.61%. Cisco Systems's payout ratio is currently 66.94%.

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.