Thomasville National Bank Has $1.40 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Thomasville National Bank boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 22,653 shares of the network equipment provider’s stock after buying an additional 1,241 shares during the period. Thomasville National Bank’s holdings in Cisco Systems were worth $1,398,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Allen Mooney & Barnes Investment Advisors LLC boosted its stake in Cisco Systems by 0.9% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 199,816 shares of the network equipment provider’s stock valued at $12,331,000 after buying an additional 1,721 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in Cisco Systems by 114.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,242,016 shares of the network equipment provider’s stock worth $76,645,000 after purchasing an additional 664,064 shares in the last quarter. Kelly Financial Services LLC acquired a new position in Cisco Systems in the first quarter worth $202,000. Davis Investment Partners LLC boosted its stake in Cisco Systems by 17.1% in the first quarter. Davis Investment Partners LLC now owns 5,545 shares of the network equipment provider’s stock worth $318,000 after purchasing an additional 811 shares in the last quarter. Finally, apricus wealth LLC boosted its stake in Cisco Systems by 1.2% in the first quarter. apricus wealth LLC now owns 54,476 shares of the network equipment provider’s stock worth $3,362,000 after purchasing an additional 636 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.4%

NASDAQ CSCO opened at $65.10 on Friday. The stock has a 50-day simple moving average of $60.25 and a 200 day simple moving average of $60.53. The company has a market capitalization of $257.80 billion, a PE ratio of 28.43, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.52%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSCO shares. New Street Research reissued a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. The Goldman Sachs Group boosted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the sale, the executive vice president now directly owns 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

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 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.