Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 209.1% in the second quarter, HoldingsChannel reports. The firm owned 49,492 shares of the network equipment provider’s stock after acquiring an additional 33,481 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Cisco Systems were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $78,000. NewEdge Wealth LLC raised its holdings in shares of Cisco Systems by 7.5% during the fourth quarter. NewEdge Wealth LLC now owns 121,900 shares of the network equipment provider’s stock valued at $6,158,000 after acquiring an additional 8,557 shares during the period. ORG Partners LLC raised its holdings in shares of Cisco Systems by 42.6% during the fourth quarter. ORG Partners LLC now owns 10,233 shares of the network equipment provider’s stock valued at $517,000 after acquiring an additional 3,059 shares during the period. Grand Wealth Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $258,000. Finally, WCM Investment Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $202,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Oppenheimer upped their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.51 during trading hours on Tuesday, hitting $45.37. 20,970,755 shares of the company traded hands, compared to its average volume of 19,648,922. The stock has a market capitalization of $182.79 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.19. The firm has a 50-day moving average of $46.67 and a 200 day moving average of $47.99. 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 released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Friday, July 5th. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale 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 stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

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.