VeraBank N.A. Has $1.03 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

VeraBank N.A. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.0% in the first quarter, Holdings Channel reports. The firm owned 20,618 shares of the network equipment provider’s stock after selling 417 shares during the quarter. VeraBank N.A.’s holdings in Cisco Systems were worth $1,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $32,000. Delos Wealth Advisors LLC raised its stake in Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems during the fourth quarter worth about $33,000. Morton Brown Family Wealth LLC raised its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC raised its stake in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 over the last quarter. 0.02% of the stock is currently owned by insiders.

Cisco Systems Trading Up 1.0 %

Cisco Systems stock traded up $0.47 during trading hours on Wednesday, reaching $46.27. The company had a trading volume of 18,731,715 shares, compared to its average volume of 19,588,938. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a 50-day moving average price of $46.89 and a 200 day moving average price of $48.61. The firm has a market cap of $186.41 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 2.67 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company posted $0.88 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

Several brokerages have commented on CSCO. Morgan Stanley began coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Wells Fargo & Company boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.47.

Check Out Our Latest Analysis on Cisco Systems

About Cisco Systems

(Free Report)

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.

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

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