Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,947 shares of the network equipment provider’s stock after selling 1,399 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Cisco Systems were worth $6,450,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. Lantz Financial LLC raised its position in Cisco Systems by 1.2% during the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after buying an additional 736 shares during the last quarter. Umpqua Bank raised its stake in shares of Cisco Systems by 7.5% during the 2nd quarter. Umpqua Bank now owns 9,784 shares of the network equipment provider’s stock worth $465,000 after buying an additional 684 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Cisco Systems by 3,269.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 150,172 shares of the network equipment provider’s stock valued at $68,000 after buying an additional 145,715 shares during the period. MainStreet Investment Advisors LLC boosted its stake in shares of Cisco Systems by 1.5% in the second quarter. MainStreet Investment Advisors LLC now owns 111,166 shares of the network equipment provider’s stock valued at $5,281,000 after buying an additional 1,695 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in Cisco Systems in the second quarter worth $528,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.2 %

Shares of NASDAQ:CSCO traded down $0.09 during trading on Monday, reaching $58.77. 18,459,486 shares of the stock were exchanged, compared to its average volume of 15,721,263. The firm’s 50-day moving average price is $58.31 and its 200 day moving average price is $52.76. The firm has a market cap of $234.07 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. 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 issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $60.95.

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.