Bangor Savings Bank Sells 833 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bangor Savings Bank reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,652 shares of the network equipment provider’s stock after selling 833 shares during the quarter. Bangor Savings Bank’s holdings in Cisco Systems were worth $2,288,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CSCO. FMR LLC lifted its holdings in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP raised its position in Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $58.77 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market cap of $234.07 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.37 and a beta of 0.84. The stock’s fifty day moving average price is $58.38 and its two-hundred day moving average price is $52.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. Barclays increased their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research note on Monday. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.95.

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.