Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Decreased by Trustco Bank Corp N Y

Trustco Bank Corp N Y reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,350 shares of the network equipment provider’s stock after selling 290 shares during the quarter. Cisco Systems comprises about 1.3% of Trustco Bank Corp N Y’s investment portfolio, making the stock its 25th largest holding. Trustco Bank Corp N Y’s holdings in Cisco Systems were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $31,000. Finally, Synergy Investment Management LLC bought a new stake in Cisco Systems in the fourth quarter worth about $36,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Cisco Systems from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $75.00 in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. The trade was a 5.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,635 shares of company stock worth $931,901 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $63.62 on Monday. The company has a market capitalization of $253.10 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business’s 50-day moving average is $58.75 and its 200-day moving average is $59.72.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Cisco Systems Profile

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.