Bank of New Hampshire Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bank of New Hampshire cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,297 shares of the network equipment provider’s stock after selling 2,143 shares during the quarter. Bank of New Hampshire’s holdings in Cisco Systems were worth $1,191,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in shares of Cisco Systems during the 4th quarter valued at approximately $603,000. Brighton Jones LLC increased its holdings in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 2,474 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Cisco Systems by 18.6% during the 4th quarter. Silver Oak Securities Incorporated now owns 10,891 shares of the network equipment provider’s stock valued at $645,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at approximately $12,415,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $66.06 on Friday. The firm has a 50-day simple moving average of $59.61 and a 200-day simple moving average of $60.36. The stock has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

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 net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler boosted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. New Street Research reissued a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,400 shares of company stock valued at $4,564,439. 0.01% of the stock is owned by company insiders.

About Cisco Systems

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.