Chemung Canal Trust Co. Has $1.11 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Chemung Canal Trust Co. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,793 shares of the network equipment provider’s stock after selling 307 shares during the period. Chemung Canal Trust Co.’s holdings in Cisco Systems were worth $1,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. West Financial Advisors LLC boosted its holdings 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 purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at about $49,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $62.23 on Friday. The stock has a market cap of $247.85 billion, a PE ratio of 26.71, a P/E/G ratio of 4.59 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. The firm has a 50-day moving average of $59.12 and a 200-day moving average of $53.92. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the business posted $0.98 earnings per share. 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 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Citigroup raised their price target on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays upped their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last 90 days. Company insiders own 0.01% of the company’s stock.

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.