Greenfield Savings Bank Has $1.53 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Greenfield Savings Bank lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,567 shares of the network equipment provider’s stock after buying an additional 1,409 shares during the period. Greenfield Savings Bank’s holdings in Cisco Systems were worth $1,526,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSCO. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. Northern Trust Corp raised its position in Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Norges Bank bought a new position in Cisco Systems in the 4th quarter valued at $2,528,939,000. Wellington Management Group LLP raised its position in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Cisco Systems by 12.3% in the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after purchasing an additional 2,723,260 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research report on Monday, May 13th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Stock Up 1.2 %

NASDAQ:CSCO opened at $47.29 on Friday. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $190.52 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.71 and a beta of 0.85. The stock has a 50-day moving average price of $47.14 and a two-hundred day moving average price of $48.83.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.