Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,685 shares of the network equipment provider’s stock after buying an additional 3,569 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Cisco Systems were worth $5,895,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems during the 3rd quarter worth about $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $32,000. Morton Brown Family Wealth LLC raised its position in shares of 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 valued at $36,000 after buying an additional 208 shares during the last quarter. Bourgeon Capital Management LLC raised its position in shares of 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 valued at $36,000 after buying an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $43,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO traded down $0.70 on Tuesday, hitting $47.08. 5,777,577 shares of the company’s stock were exchanged, compared to its average volume of 19,091,309. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $48.92 and a two-hundred day moving average of $49.97. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The firm has a market cap of $190.64 billion, a PE ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.40%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 48.63%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSCO shares. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Piper Sandler lifted their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.53.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated 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 $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate 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.