Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by NBT Bank N A NY

NBT Bank N A NY trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,331 shares of the network equipment provider's stock after selling 8,970 shares during the quarter. NBT Bank N A NY's holdings in Cisco Systems were worth $10,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president now owns 131,676 shares of the company's stock, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,931 shares of company stock valued at $4,671,930. Company insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company upgraded 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 research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.11.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.51 during trading on Wednesday, reaching $65.84. The company had a trading volume of 22,661,981 shares, compared to its average volume of 20,178,978. The firm has a market capitalization of $260.73 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.91 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock's fifty day moving average price is $60.86 and its 200 day moving average price is $60.66. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

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 business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

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.