Israel Discount Bank of New York Has $496,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Israel Discount Bank of New York reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,821 shares of the network equipment provider’s stock after selling 476 shares during the period. Israel Discount Bank of New York’s holdings in Cisco Systems were worth $496,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new position in shares of Cisco Systems in the 3rd quarter valued at $27,000. Valued Wealth Advisors LLC purchased a new position in Cisco Systems in the fourth quarter worth $32,000. Morton Brown Family Wealth LLC lifted its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Bourgeon Capital Management LLC raised its stake in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $43,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CSCO shares. Wells Fargo & Company started coverage on shares of Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Morgan Stanley initiated coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Barclays raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.53.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.18 on Monday, hitting $47.68. 7,334,649 shares of the stock traded hands, compared to its average volume of 19,200,313. The firm has a market cap of $193.07 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The firm has a 50 day simple moving average of $48.94 and a two-hundred day simple moving average of $50.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.36%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Cisco Systems Company 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.