Tompkins Financial Corp Has $13 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Tompkins Financial Corp grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,276 shares of the network equipment provider’s stock after purchasing an additional 3,411 shares during the quarter. Cisco Systems comprises approximately 1.2% of Tompkins Financial Corp’s investment portfolio, making the stock its 20th biggest position. Tompkins Financial Corp’s holdings in Cisco Systems were worth $13,000,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the period. Citizens Financial Group Inc. RI raised its position in shares of Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in 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 acquiring an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its position in shares of Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after purchasing an additional 92,179 shares during the period. Finally, IRON Financial LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $856,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock traded down $0.02 during midday trading on Friday, hitting $58.06. The company’s stock had a trading volume of 17,517,686 shares, compared to its average volume of 18,973,309. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $58.30. The stock has a market cap of $231.70 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83. The stock’s 50-day moving average price is $53.30 and its 200 day moving average price is $49.40. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSCO. Barclays decreased their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial boosted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.74.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last ninety days. 0.01% of the stock is currently owned by insiders.

About Cisco Systems

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.