Cambridge Trust Co. Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cambridge Trust Co. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,997 shares of the network equipment provider’s stock after selling 2,955 shares during the period. Cambridge Trust Co.’s holdings in Cisco Systems were worth $1,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. Great West Life Assurance Co. Can purchased a new stake in shares of Cisco Systems in the third quarter valued at about $246,529,000. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 1.5% during the third quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider’s stock worth $15,110,293,000 after acquiring an additional 5,586,273 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cisco Systems by 4,090.1% during the second quarter. Renaissance Technologies LLC now owns 5,359,105 shares of the network equipment provider’s stock worth $228,512,000 after acquiring an additional 5,231,205 shares during the period. Federated Hermes Inc. increased its stake in shares of Cisco Systems by 3,370.0% during the second quarter. Federated Hermes Inc. now owns 5,371,625 shares of the network equipment provider’s stock worth $229,047,000 after acquiring an additional 5,216,825 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Cisco Systems by 265.5% during the third quarter. National Bank of Canada FI now owns 6,320,850 shares of the network equipment provider’s stock worth $253,082,000 after acquiring an additional 4,591,715 shares during the period. 71.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Cisco Systems from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Tigress Financial reiterated a “buy” rating and set a $73.00 price target on shares of Cisco Systems in a research note on Friday. Oppenheimer reiterated an “outperform” rating and set a $50.00 price target on shares of Cisco Systems in a research note on Friday, November 18th. Morgan Stanley upped their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, February 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,142 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total transaction of $153,266.76. Following the transaction, the executive vice president now owns 180,697 shares of the company’s stock, valued at $8,814,399.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,142 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total value of $153,266.76. Following the transaction, the executive vice president now owns 180,697 shares of the company’s stock, valued at approximately $8,814,399.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prat Bhatt sold 608 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the transaction, the senior vice president now directly owns 50,162 shares in the company, valued at approximately $2,444,895.88. The disclosure for this sale can be found here. Insiders have sold a total of 47,568 shares of company stock valued at $2,376,624 over the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $50.19 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.41. The company has a market capitalization of $205.57 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.26 and a beta of 1.00. The company’s 50 day simple moving average is $48.59 and its 200 day simple moving average is $46.32. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $56.94.

Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.12. The business had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.41 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.34 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, April 4th. This represents a $1.56 dividend on an annualized basis and a yield of 3.11%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.38. Cisco Systems’s dividend payout ratio (DPR) is currently 55.68%.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.