Citizens & Northern Corp Acquires 921 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Citizens & Northern Corp increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 34,077 shares of the network equipment provider’s stock after buying an additional 921 shares during the quarter. Citizens & Northern Corp’s holdings in Cisco Systems were worth $2,103,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proathlete Wealth Management LLC increased its holdings in Cisco Systems by 12.4% during the 1st quarter. Proathlete Wealth Management LLC now owns 5,260 shares of the network equipment provider’s stock worth $325,000 after acquiring an additional 581 shares during the period. Osborne Partners Capital Management LLC raised its position in shares of Cisco Systems by 1.2% in the first quarter. Osborne Partners Capital Management LLC now owns 23,973 shares of the network equipment provider’s stock worth $1,479,000 after buying an additional 292 shares in the last quarter. Good Steward Wealth Advisors LLC bought a new stake in Cisco Systems during the first quarter valued at $290,000. Alta Capital Management LLC grew its position in Cisco Systems by 5.3% during the first quarter. Alta Capital Management LLC now owns 76,307 shares of the network equipment provider’s stock worth $4,709,000 after buying an additional 3,859 shares in the last quarter. Finally, ORG Partners LLC increased its stake in Cisco Systems by 18.9% in the 1st quarter. ORG Partners LLC now owns 1,693 shares of the network equipment provider’s stock worth $105,000 after acquiring an additional 269 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now owns 257,162 shares of the company’s stock, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 4,185 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the sale, the senior vice president now owns 38,103 shares in the company, valued at $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,931 shares of company stock worth $4,671,930. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $65.84 on Friday. The stock’s 50 day simple moving average is $61.20 and its 200 day simple moving average is $60.74. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market capitalization of $260.73 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CSCO shares. Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $73.00 in a report on Monday. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Finally, Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price 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.