Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Citizens Business Bank

Citizens Business Bank raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,751 shares of the network equipment provider’s stock after purchasing an additional 279 shares during the period. Citizens Business Bank’s holdings in Cisco Systems were worth $2,433,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Valued Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $32,000. Delos Wealth Advisors LLC increased its position in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $33,000. Morton Brown Family Wealth LLC increased its position in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC increased its position in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.1 %

Shares of Cisco Systems stock opened at $47.51 on Monday. The firm has a market capitalization of $191.41 billion, a PE ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The firm’s 50-day moving average price is $47.06 and its 200 day moving average price is $48.78. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. Barclays upped their target price on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.47.

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.