Indiana Trust & Investment Management CO cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,252 shares of the network equipment provider’s stock after selling 1,164 shares during the period. Indiana Trust & Investment Management CO’s holdings in Cisco Systems were worth $478,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Hussman Strategic Advisors Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $1,835,000. Tealwood Asset Management Inc. grew its holdings in shares of Cisco Systems by 80.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 65,171 shares of the network equipment provider’s stock worth $2,916,000 after purchasing an additional 29,009 shares during the last quarter. Doyle Wealth Management grew its holdings in shares of Cisco Systems by 38.5% during the fourth quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after purchasing an additional 7,672 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Cisco Systems by 16.1% during the fourth quarter. IFM Investors Pty Ltd now owns 406,899 shares of the network equipment provider’s stock worth $18,209,000 after purchasing an additional 56,489 shares during the last quarter. Finally, Family Firm Inc. grew its holdings in shares of Cisco Systems by 9.9% during the fourth quarter. Family Firm Inc. now owns 7,213 shares of the network equipment provider’s stock worth $328,000 after purchasing an additional 649 shares during the last quarter. Institutional investors own 70.62% of the company’s stock.
CSCO has been the topic of several research reports. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price objective on the stock in a report on Thursday, March 11th. Piper Sandler raised their price target on Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, February 11th. Credit Suisse Group raised their price target on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Finally, Raymond James raised their price target on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Hold” and a consensus target price of $49.48.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same period in the previous year, the firm posted $0.77 EPS. As a group, research analysts anticipate 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 will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be given a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, April 5th. Cisco Systems’s payout ratio is currently 50.68%.
In other Cisco Systems news, CEO Charles Robbins sold 8,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $46.20, for a total value of $392,561.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Prat Bhatt sold 6,273 shares of Cisco Systems stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $296,148.33. Following the completion of the sale, the chief accounting officer now directly owns 119,282 shares of the company’s stock, valued at $5,631,303.22. The disclosure for this sale can be found here. Insiders have sold a total of 37,776 shares of company stock valued at $1,832,205 over the last 90 days. Insiders own 0.02% of the company’s stock.
Cisco Systems 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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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