Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Community Bank N.A.

Community Bank N.A. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,051 shares of the network equipment provider’s stock after purchasing an additional 7,830 shares during the period. Cisco Systems makes up approximately 1.4% of Community Bank N.A.’s investment portfolio, making the stock its 17th largest holding. Community Bank N.A.’s holdings in Cisco Systems were worth $8,070,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Hoey Investments Inc. bought a new position in Cisco Systems during the second quarter valued at about $26,000. Lion Street Advisors LLC bought a new position in Cisco Systems during the first quarter valued at about $31,000. Bourgeon Capital Management LLC bought a new position in Cisco Systems during the first quarter valued at about $32,000. Emerald Advisers LLC bought a new position in Cisco Systems during the second quarter valued at about $38,000. Finally, Avondale Wealth Management boosted its stake in Cisco Systems by 238.0% during the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after buying an additional 707 shares in the last quarter. 71.36% of the stock is currently owned by institutional investors.

Shares of CSCO traded up $0.66 during midday trading on Friday, reaching $47.10. 17,706,367 shares of the stock were exchanged, compared to its average volume of 16,785,004. Cisco Systems, Inc. has a 12-month low of $32.40 and a 12-month high of $56.89. The firm has a 50 day simple moving average of $46.07 and a 200-day simple moving average of $44.16. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. The company has a market cap of $198.87 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 3.05 and a beta of 0.98.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same period last year, the business earned $0.78 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were paid 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 of this dividend was Thursday, July 2nd. Cisco Systems’s payout ratio is 50.53%.

In related news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the transaction, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by company insiders.

A number of equities analysts recently weighed in on CSCO shares. TheStreet upgraded Cisco Systems from a “c+” rating to a “b-” rating in a research report on Thursday, June 4th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $48.00 to $55.00 in a research report on Tuesday, June 16th. Piper Sandler increased their price target on Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Raymond James increased their price target on Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Hold” and a consensus price target of $50.33.

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 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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