Norway Savings Bank cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,666 shares of the network equipment provider’s stock after selling 750 shares during the quarter. Norway Savings Bank’s holdings in Cisco Systems were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. Hoey Investments Inc. acquired a new stake in Cisco Systems in the second quarter valued at $26,000. FNY Investment Advisers LLC raised its holdings in shares of Cisco Systems by 79,900.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 799 shares during the period. Emerald Advisers LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $38,000. Larson Financial Group LLC grew its holdings in Cisco Systems by 61.1% during the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock worth $44,000 after purchasing an additional 356 shares during the period. Finally, Ovata Capital Management Ltd acquired a new position in Cisco Systems during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

CSCO has been the topic of a number of recent analyst reports. ValuEngine lowered Cisco Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Wolfe Research lowered shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective on the stock. in a research report on Friday, September 18th. JPMorgan Chase & Co. reduced their target price on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Bank of America lowered their price target on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, September 16th. Finally, Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.45.

In other Cisco Systems news, CAO Prat Bhatt sold 2,873 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $42.11, for a total transaction of $120,982.03. Following the completion of the transaction, the chief accounting officer now owns 82,006 shares of the company’s stock, valued at $3,453,272.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 45,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. Insiders have sold 60,166 shares of company stock valued at $2,528,248 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

CSCO stock opened at $40.16 on Friday. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $50.28. The business has a 50-day simple moving average of $39.95 and a 200 day simple moving average of $43.30. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. The company has a market cap of $170.01 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the firm earned $0.83 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 annualized dividend and a yield of 3.59%. Cisco Systems’s dividend payout ratio is currently 49.32%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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