Peoples Bank KS Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Peoples Bank KS acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,197 shares of the network equipment provider’s stock, valued at approximately $1,022,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC boosted its holdings in Cisco Systems by 6.0% during the third quarter. Abacus Wealth Partners LLC now owns 6,902 shares of the network equipment provider’s stock valued at $367,000 after acquiring an additional 390 shares during the period. Apella Capital LLC boosted its stake in Cisco Systems by 2.2% during the 3rd quarter. Apella Capital LLC now owns 11,194 shares of the network equipment provider’s stock valued at $589,000 after purchasing an additional 242 shares during the period. Johnson & White Wealth Management LLC grew its holdings in Cisco Systems by 11.5% in the 3rd quarter. Johnson & White Wealth Management LLC now owns 13,762 shares of the network equipment provider’s stock valued at $732,000 after buying an additional 1,424 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its position in Cisco Systems by 2.4% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 110,346 shares of the network equipment provider’s stock worth $5,873,000 after buying an additional 2,586 shares during the period. Finally, Farmers Trust Co. lifted its holdings in shares of Cisco Systems by 1.6% during the third quarter. Farmers Trust Co. now owns 177,147 shares of the network equipment provider’s stock worth $9,428,000 after buying an additional 2,737 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.32 during trading hours on Friday, reaching $52.75. 11,723,476 shares of the company were exchanged, compared to its average volume of 19,368,709. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market cap of $212.52 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 4.11 and a beta of 0.83. The stock’s fifty day moving average is $49.48 and its two-hundred day moving average is $48.25. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last three months. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CSCO shares. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $55.00.

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.