Community Bank N.A. Sells 2,311 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Community Bank N.A. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 169,121 shares of the network equipment provider’s stock after selling 2,311 shares during the quarter. Cisco Systems accounts for about 1.3% of Community Bank N.A.’s investment portfolio, making the stock its 13th biggest position. Community Bank N.A.’s holdings in Cisco Systems were worth $10,012,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth $132,000. Morse Asset Management Inc acquired a new stake in Cisco Systems in the third quarter valued at $798,000. HighVista Strategies LLC acquired a new stake in Cisco Systems in the third quarter valued at $1,698,000. GAMMA Investing LLC lifted its stake in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $502,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $60.30 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a market cap of $239.89 billion, a P/E ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. The stock’s fifty day moving average is $61.95 and its 200 day moving average is $58.11.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $66.63.

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.