Chemung Canal Trust Co. boosted its position in Cisco Systems Inc. (NASDAQ:CSCO) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,853 shares of the network equipment provider’s stock after buying an additional 1,787 shares during the period. Chemung Canal Trust Co.’s holdings in Cisco Systems were worth $2,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orrstown Financial Services Inc. increased its position in shares of Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock worth $103,000 after buying an additional 1,530 shares during the period. Riggs Asset Managment Co. Inc. increased its position in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares during the period. Lenox Wealth Management Inc. increased its position in shares of Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock worth $110,000 after buying an additional 995 shares during the period. West Oak Capital LLC increased its position in shares of Cisco Systems by 19.1% in the third quarter. West Oak Capital LLC now owns 4,052 shares of the network equipment provider’s stock worth $129,000 after buying an additional 651 shares during the period. Finally, Global X Management Co. LLC increased its position in shares of Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock worth $122,000 after buying an additional 2,142 shares during the period. Hedge funds and other institutional investors own 74.29% of the company’s stock.

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

Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.30% during midday trading on Tuesday, hitting $29.83. The company’s stock had a trading volume of 23,553,735 shares. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The company’s 50-day moving average is $30.55 and its 200 day moving average is $30.16. The company has a market cap of $149.74 billion, a price-to-earnings ratio of 14.27 and a beta of 1.42.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The firm earned $12.35 billion during the quarter, compared to analyst estimates of $12.34 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. On average, analysts predict that Cisco Systems Inc. will post $2.37 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Cisco Systems Inc. (CSCO) Stake Boosted by Chemung Canal Trust Co.” was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this report on another publication, it was copied illegally and republished in violation of international copyright & trademark legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2016/11/29/cisco-systems-inc-csco-stake-boosted-by-chemung-canal-trust-co.html.

Several analysts have recently weighed in on CSCO shares. FBN Securities set a $35.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, November 19th. Piper Jaffray Cos. lifted their price objective on shares of Cisco Systems from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Wunderlich reiterated a “hold” rating and issued a $27.00 price objective on shares of Cisco Systems in a research note on Thursday, August 18th. JMP Securities reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, November 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.73.

In other news, Director John L. Hennessy sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the sale, the director now owns 88,369 shares in the company, valued at approximately $2,761,531.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 148,800 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the completion of the sale, the chief executive officer now owns 629,813 shares of the company’s stock, valued at approximately $19,530,501.13. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by 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

Receive News & Stock Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related stocks with our FREE daily email newsletter.