FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $450,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,448 shares of the network equipment provider’s stock after acquiring an additional 275 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Cisco Systems were worth $450,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the last quarter. Quarry LP lifted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. Retirement Group LLC increased its position in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter worth about $36,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $54.25 on Friday. 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 stock has a market cap of $216.50 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The firm’s 50-day moving average is $50.14 and its 200 day moving average is $48.40.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This 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 valued at $3,509,049 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, 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 note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Cisco Systems Company 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.