Canandaigua National Trust Co of Florida Acquires 958 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Canandaigua National Trust Co of Florida raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,916 shares of the network equipment provider’s stock after acquiring an additional 958 shares during the quarter. Cisco Systems makes up 0.9% of Canandaigua National Trust Co of Florida’s holdings, making the stock its 22nd biggest position. Canandaigua National Trust Co of Florida’s holdings in Cisco Systems were worth $1,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the 3rd quarter worth approximately $40,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Cisco Systems in the third quarter worth about $56,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CSCO shares. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $73.00 in a research report on Monday. UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $60.95.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares of the company’s stock, valued at approximately $12,596,059. This represents a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.09 during mid-day trading on Monday, reaching $58.77. 18,459,486 shares of the company’s stock traded hands, compared to its average volume of 15,721,263. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The firm has a 50 day moving average price of $58.31 and a two-hundred day moving average price of $52.76. The firm has a market capitalization of $234.07 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.