Ledyard National Bank Sells 9,942 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ledyard National Bank lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,332 shares of the network equipment provider's stock after selling 9,942 shares during the quarter. Cisco Systems accounts for about 1.3% of Ledyard National Bank's investment portfolio, making the stock its 21st biggest holding. Ledyard National Bank's holdings in Cisco Systems were worth $13,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in CSCO. Navigoe LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC increased its holdings in Cisco Systems by 160.4% during the fourth 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 during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the fourth quarter worth $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $31,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.30 during midday trading on Wednesday, hitting $68.19. 19,378,861 shares of the company traded hands, compared to its average volume of 20,165,044. The firm's fifty day moving average price is $61.80 and its 200-day moving average price is $60.90. The stock has a market cap of $270.03 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 4.03 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $68.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly 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 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm 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 2.41%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer now owns 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. Company insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $69.11.

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.