Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,415 shares of the network equipment provider’s stock after selling 373 shares during the quarter. Adirondack Trust Co.’s holdings in Cisco Systems were worth $2,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new position in Cisco Systems in the third quarter valued at approximately $798,000. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $1,698,000. GAMMA Investing LLC boosted its holdings in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after buying an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in Cisco Systems during the 3rd quarter worth $502,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CSCO shares. Citigroup upped their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Shares of CSCO opened at $61.63 on Thursday. The firm’s 50-day moving average is $59.04 and its two-hundred day moving average is $53.86. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $61.76. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $245.46 billion, a P/E ratio of 26.45, a PEG ratio of 4.54 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the business posted $0.98 EPS. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.