Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Peoples Financial Services CORP.

Peoples Financial Services CORP. lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 41,214 shares of the network equipment provider’s stock after selling 618 shares during the period. Cisco Systems makes up approximately 1.0% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 26th largest position. Peoples Financial Services CORP.’s holdings in Cisco Systems were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. State Street Corp increased its position in Cisco Systems by 2.2% during the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after purchasing an additional 4,061,022 shares in the last quarter. Geode Capital Management LLC grew its stake in Cisco Systems by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 78,378,278 shares of the network equipment provider’s stock worth $4,088,864,000 after acquiring an additional 1,641,294 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cisco Systems by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 70,960,104 shares of the network equipment provider’s stock worth $3,674,524,000 after purchasing an additional 399,565 shares during the period. Morgan Stanley boosted its holdings in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.6 %

CSCO stock opened at $56.04 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The firm has a market cap of $227.23 billion, a PE ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.97. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $58.19. The firm has a 50 day simple moving average of $54.20 and a 200 day simple moving average of $51.17.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The business had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same period in the previous year, the firm posted $0.74 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is currently 50.81%.

Insider Buying and Selling at Cisco Systems

In other news, COO Maria Martinez sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $50.88, for a total value of $508,800.00. Following the completion of the sale, the chief operating officer now owns 414,033 shares of the company’s stock, valued at $21,065,999.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Maria Martinez sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $50.88, for a total value of $508,800.00. Following the completion of the sale, the chief operating officer now directly owns 414,033 shares of the company’s stock, valued at $21,065,999.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 2,579 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The disclosure for this sale can be found here. Insiders have sold a total of 54,438 shares of company stock valued at $2,948,779 in the last three months. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a research note on Thursday, August 17th. Piper Sandler upped their price target on shares of Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Raymond James lifted their price target on shares of Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Evercore ISI increased their target price on Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Finally, Jefferies Financial Group boosted their price target on Cisco Systems from $54.00 to $59.50 and gave the company a “buy” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.43.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.