Adirondack Trust Co. Sells 7,725 Shares of Cisco Systems, Inc. (CSCO)

Adirondack Trust Co. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 25.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,081 shares of the network equipment provider’s stock after selling 7,725 shares during the period. Adirondack Trust Co.’s holdings in Cisco Systems were worth $691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barnett & Company Inc. grew its position in shares of Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the last quarter. Grove Bank & Trust grew its position in shares of Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares during the last quarter. Watermark Asset Management Inc. bought a new stake in shares of Cisco Systems in the 1st quarter valued at about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after buying an additional 560 shares during the last quarter. Finally, Baystate Wealth Management LLC grew its position in shares of Cisco Systems by 24.5% in the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after buying an additional 1,484 shares during the last quarter. 75.22% of the stock is owned by institutional investors and hedge funds.

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A number of research firms have commented on CSCO. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the company a “hold” rating in a research report on Tuesday, August 15th. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Deutsche Bank AG reiterated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, August 8th. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target on the stock. in a research report on Wednesday, August 16th. Finally, BidaskClub upgraded Cisco Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.26.

Cisco Systems, Inc. (CSCO) opened at $34.47 on Monday. Cisco Systems, Inc. has a twelve month low of $29.12 and a twelve month high of $34.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.03 and a quick ratio of 2.98. The company has a market capitalization of $170,687.92, a price-to-earnings ratio of 15.89, a PEG ratio of 3.01 and a beta of 1.15.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. research analysts anticipate that Cisco Systems, Inc. will post 2.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s payout ratio is currently 60.73%.

In other news, SVP Karen Walker sold 23,110 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the transaction, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at $6,180,334.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Cisco Systems Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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