Field & Main Bank Has $1.44 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Field & Main Bank boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% during the first quarter, Holdings Channel reports. The institutional investor owned 23,377 shares of the network equipment provider’s stock after buying an additional 2,200 shares during the period. Field & Main Bank’s holdings in Cisco Systems were worth $1,442,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CSCO. Brighton Jones LLC increased its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares during the period. Revolve Wealth Partners LLC increased its position in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares during the period. Addison Advisors LLC raised its stake in Cisco Systems by 2.4% in the 4th quarter. Addison Advisors LLC now owns 17,401 shares of the network equipment provider’s stock worth $1,030,000 after purchasing an additional 400 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Cisco Systems by 20.2% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 39,675 shares of the network equipment provider’s stock valued at $2,349,000 after purchasing an additional 6,671 shares during the period. Finally, CWS Financial Advisors LLC grew its position in shares of Cisco Systems by 14.9% during the 4th quarter. CWS Financial Advisors LLC now owns 12,227 shares of the network equipment provider’s stock worth $724,000 after purchasing an additional 1,587 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $67.89 on Wednesday. The firm’s fifty day moving average price is $61.80 and its two-hundred day moving average price is $60.90. The stock has a market cap of $268.84 billion, a PE ratio of 27.71, a PEG ratio of 4.03 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $68.04.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.42%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer now owns 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the transaction, the senior vice president now owns 38,103 shares of the company’s stock, valued at $2,419,921.53. This trade represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 in the last ninety days. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of analyst reports. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $73.00 in a report on Monday, June 16th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.11.

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. 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.