VeraBank N.A. Buys 276 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

VeraBank N.A. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,035 shares of the network equipment provider’s stock after acquiring an additional 276 shares during the quarter. VeraBank N.A.’s holdings in Cisco Systems were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $32,000. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC raised its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO traded up $0.33 during midday trading on Friday, hitting $47.12. 17,935,302 shares of the company traded hands, compared to its average volume of 17,219,910. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $190.80 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The company’s 50-day moving average is $48.79 and its 200 day moving average is $49.83. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s payout ratio is presently 48.63%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Melius Research reiterated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $55.53.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 over the last quarter. 0.02% of the stock is currently owned by company 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.