Ledyard National Bank boosted its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 350,151 shares of the network equipment provider’s stock after buying an additional 40,058 shares during the period. Cisco Systems makes up 2.0% of Ledyard National Bank’s portfolio, making the stock its 8th largest position. Ledyard National Bank’s holdings in Cisco Systems were worth $11,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Asset Management LLC PA increased its position in shares of Cisco Systems by 15.9% in the third quarter. Berkshire Asset Management LLC PA now owns 674,456 shares of the network equipment provider’s stock valued at $21,394,000 after buying an additional 92,568 shares during the period. Orinda Asset Management LLC purchased a new position in shares of Cisco Systems during the third quarter valued at $255,000. Gilman Hill Asset Management LLC increased its position in shares of Cisco Systems by 2.1% in the third quarter. Gilman Hill Asset Management LLC now owns 25,460 shares of the network equipment provider’s stock valued at $808,000 after buying an additional 520 shares during the period. Woodley Farra Manion Portfolio Management Inc. increased its position in shares of Cisco Systems by 5.7% in the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 127,405 shares of the network equipment provider’s stock valued at $4,041,000 after buying an additional 6,874 shares during the period. Finally, Oakworth Capital Inc. increased its position in shares of Cisco Systems by 13.2% in the third quarter. Oakworth Capital Inc. now owns 21,366 shares of the network equipment provider’s stock valued at $677,000 after buying an additional 2,484 shares during the period. Institutional investors and hedge funds own 74.29% of the company’s stock.

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.56% during midday trading on Monday, reaching $29.92. The company had a trading volume of 21,143,072 shares. Cisco Systems Inc. has a 12-month low of $22.46 and a 12-month high of $31.95. The stock’s 50 day moving average is $30.59 and its 200 day moving average is $30.09. The firm has a market capitalization of $150.41 billion, a price-to-earnings ratio of 14.32 and a beta of 1.42.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The firm earned $12.35 billion during the quarter, compared to analysts’ expectations of $12.34 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts expect that Cisco Systems Inc. will post $2.37 earnings per share for the current year.

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Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday. FBN Securities set a $35.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Saturday, November 19th. Stifel Nicolaus assumed coverage on shares of Cisco Systems in a report on Friday, November 18th. They issued a “hold” rating and a $34.00 price target on the stock. Deutsche Bank AG set a $37.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday, November 17th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $34.00 price target on shares of Cisco Systems in a report on Thursday, November 17th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average price target of $32.73.

In other Cisco Systems news, SVP Karen Walker sold 10,244 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total value of $319,305.48. Following the completion of the sale, the senior vice president now owns 138,625 shares of the company’s stock, valued at $4,320,941.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark D. Chandler sold 62,910 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $31.40, for a total value of $1,975,374.00. Following the completion of the sale, the senior vice president now directly owns 286,628 shares of the company’s stock, valued at approximately $9,000,119.20. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

About Cisco Systems

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

5 Day Chart for NASDAQ:CSCO

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