Camden National Bank Has $219,000 Holdings in Cisco Systems, Inc. (CSCO)
Camden National Bank raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,986 shares of the network equipment provider’s stock after buying an additional 991 shares during the period. Camden National Bank’s holdings in Cisco Systems were worth $219,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Southeast Asset Advisors Inc. boosted its position in Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after buying an additional 44 shares during the period. Ronald Blue & Co. LLC boosted its position in Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after buying an additional 57 shares during the period. Banced Corp boosted its position in Cisco Systems by 0.4% during the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after buying an additional 59 shares during the period. Delta Asset Management LLC TN boosted its holdings in shares of Cisco Systems by 0.4% during the second quarter. Delta Asset Management LLC TN now owns 17,489 shares of the network equipment provider’s stock worth $547,000 after purchasing an additional 72 shares during the period. Finally, Telemus Capital LLC boosted its holdings in shares of Cisco Systems by 0.6% during the second quarter. Telemus Capital LLC now owns 12,235 shares of the network equipment provider’s stock worth $383,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.
A number of research firms have recently weighed in on CSCO. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price for the company in a report on Wednesday, September 6th. Robert W. Baird reiterated a “buy” rating and set a $38.00 target price on shares of Cisco Systems in a report on Monday, September 11th. Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a report on Thursday, August 17th. Berenberg Bank set a $33.00 target price on shares of Cisco Systems and gave the stock a “hold” rating in a report on Thursday, August 17th. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $35.00 target price on shares of Cisco Systems in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $35.31.
In other news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 485,138 shares of company stock worth $15,347,574. Insiders own 0.05% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $33.95 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $29.12 and a fifty-two week high of $34.75. The company has a quick ratio of 2.98, a current ratio of 3.03 and a debt-to-equity ratio of 0.39. The stock has a market cap of $168,311.06, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. During the same period in the previous year, the firm posted $0.63 EPS. The business’s quarterly revenue was down 4.0% on a year-over-year basis. equities research analysts predict that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.42%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
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Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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