Community Bank N.A. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,051 shares of the network equipment provider’s stock after purchasing an additional 7,830 shares during the period. Cisco Systems accounts for about 1.4% of Community Bank N.A.’s investment portfolio, making the stock its 17th biggest holding. Community Bank N.A.’s holdings in Cisco Systems were worth $8,070,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Kiley Juergens Wealth Management LLC boosted its position in Cisco Systems by 2.2% during the second quarter. Kiley Juergens Wealth Management LLC now owns 21,950 shares of the network equipment provider’s stock valued at $1,023,000 after purchasing an additional 475 shares during the last quarter. Corbenic Partners LLC bought a new stake in Cisco Systems in the first quarter valued at approximately $1,809,000. Exchange Traded Concepts LLC raised its stake in Cisco Systems by 30.1% in the first quarter. Exchange Traded Concepts LLC now owns 13,082 shares of the network equipment provider’s stock valued at $514,000 after buying an additional 3,023 shares during the period. Balentine LLC bought a new stake in Cisco Systems in the first quarter valued at approximately $131,000. Finally, Alpha Cubed Investments LLC raised its stake in Cisco Systems by 5.1% in the second quarter. Alpha Cubed Investments LLC now owns 464,951 shares of the network equipment provider’s stock valued at $21,685,000 after buying an additional 22,531 shares during the period. 71.36% of the stock is owned by hedge funds and other institutional investors.
CSCO has been the topic of several research analyst reports. TheStreet upgraded Cisco Systems from a “c+” rating to a “b-” rating in a research note on Thursday, June 4th. KeyCorp lowered Cisco Systems from an “overweight” rating to a “sector weight” rating in a research note on Friday, April 17th. BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday. Credit Suisse Group restated a “hold” rating and issued a $41.00 price objective on shares of Cisco Systems in a research note on Monday, July 20th. Finally, Barclays lowered Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. Cisco Systems presently has a consensus rating of “Hold” and an average price target of $50.33.
NASDAQ:CSCO traded up $0.66 during trading hours on Friday, reaching $47.10. 17,706,367 shares of the company were exchanged, compared to its average volume of 16,785,004. The company has a market capitalization of $198.87 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.05 and a beta of 0.98. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. The business has a 50 day moving average of $46.07 and a 200 day moving average of $44.16.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s dividend payout ratio is presently 50.53%.
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 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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