Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,387 shares of the network equipment provider’s stock after purchasing an additional 738 shares during the quarter. Independence Bank of Kentucky’s holdings in Cisco Systems were worth $575,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC acquired a new position in Cisco Systems in the 4th quarter worth approximately $32,000. Fortis Capital Advisors LLC acquired a new position in Cisco Systems in the 4th quarter worth approximately $34,000. Hibernia Wealth Partners LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $42,000. Finally, VitalStone Financial LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the 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 completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 over the last ninety days. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CSCO shares. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Piper Sandler lifted their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Melius Research reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Monday, January 8th. Finally, UBS Group lifted their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $56.42.

Read Our Latest Stock Report on CSCO

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $49.36 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a market cap of $199.87 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.87. The firm’s 50-day simple moving average is $49.65 and its 200-day simple moving average is $50.71. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during 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%. Cisco Systems’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is 47.42%.

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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