Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Montecito Bank & Trust

Montecito Bank & Trust increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,352 shares of the network equipment provider’s stock after purchasing an additional 1,008 shares during the period. Montecito Bank & Trust’s holdings in Cisco Systems were worth $2,614,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $30,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the transaction, the executive vice president now directly owns 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the transaction, the senior vice president now owns 38,103 shares in the company, valued at $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,931 shares of company stock worth $4,671,930. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CSCO shares. Evercore ISI lifted their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $64.09 on Monday. The business’s 50-day moving average price is $60.47 and its two-hundred day moving average price is $60.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems’s payout ratio is presently 66.94%.

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.