Montecito Bank & Trust Has $2.45 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Montecito Bank & Trust boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,344 shares of the network equipment provider’s stock after purchasing an additional 2,345 shares during the period. Montecito Bank & Trust’s holdings in Cisco Systems were worth $2,448,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CSCO. Morse Asset Management Inc acquired a new position in shares of Cisco Systems during the 3rd quarter worth $798,000. HighVista Strategies LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $1,698,000. GAMMA Investing LLC boosted its stake in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Cisco Systems during the 3rd quarter valued at about $502,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSCO. Wells Fargo & Company lifted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Citigroup boosted their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Morgan Stanley upped their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Trading Up 1.0 %

NASDAQ:CSCO opened at $62.23 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.32. The stock’s fifty day moving average price is $59.04 and its two-hundred day moving average price is $53.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market cap of $247.85 billion, a P/E ratio of 26.71, a P/E/G ratio of 4.54 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Cisco Systems Company 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.