Hanson & Doremus Investment Management Has $4.28 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Hanson & Doremus Investment Management increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,367 shares of the network equipment provider's stock after acquiring an additional 13,940 shares during the period. Hanson & Doremus Investment Management's holdings in Cisco Systems were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Glass Jacobson Investment Advisors llc boosted its position in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC lifted its holdings in shares of Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after buying an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC lifted its holdings in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after buying an additional 168 shares in the last quarter. Legacy Financial Group Inc. lifted its holdings in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after buying an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. lifted its holdings in shares of Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president now directly owns 131,676 shares of the company's stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider now directly owns 257,162 shares of the company's stock, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Down 1.6%

Shares of Cisco Systems stock opened at $64.09 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm's 50-day moving average is $60.47 and its two-hundred day moving average is $60.58. The stock has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the business earned $0.88 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CSCO shares. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" 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, Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average target price of $68.00.

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.

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