Bangor Savings Bank Has $2.11 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Jun 20th, 2023

Bangor Savings Bank cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,302 shares of the network equipment provider’s stock after selling 1,300 shares during the period. Bangor Savings Bank’s holdings in Cisco Systems were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CSCO. Retirement Financial Solutions LLC bought a new position in Cisco Systems in the fourth quarter valued at approximately $25,000. Steward Financial Group LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. My Personal CFO LLC acquired a new position in Cisco Systems during the fourth quarter worth $27,000. Fortis Capital Advisors LLC bought a new stake in Cisco Systems during the fourth quarter worth $34,000. Finally, EWG Elevate Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at about $36,000. Institutional investors own 71.96% of the company’s stock.

Cisco Systems Stock Up 0.3 %

Shares of NASDAQ:CSCO opened at $52.07 on Tuesday. The company has a market capitalization of $212.19 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.37 and a beta of 1.01. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $52.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.39 and a quick ratio of 1.27. The business has a fifty day moving average price of $48.69 and a two-hundred day moving average price of $48.81.

Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Cisco Systems had a net margin of 20.89% and a return on equity of 31.66%. The business had revenue of $14.57 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.38 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Thursday, July 6th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.00%. Cisco Systems’s dividend payout ratio is presently 56.12%.

Insider Transactions at Cisco Systems

In related news, Director Roderick C. Mcgeary sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $50.96, for a total transaction of $509,600.00. Following the sale, the director now directly owns 103,992 shares in the company, valued at approximately $5,299,432.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Prat Bhatt sold 608 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $50.61, for a total value of $30,770.88. Following the sale, the senior vice president now directly owns 45,092 shares of the company’s stock, valued at $2,282,106.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roderick C. Mcgeary sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $50.96, for a total transaction of $509,600.00. Following the transaction, the director now directly owns 103,992 shares of the company’s stock, valued at approximately $5,299,432.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,514 shares of company stock worth $1,323,708. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Raymond James lifted their price target on Cisco Systems from $63.00 to $64.00 in a report on Thursday, May 18th. Piper Sandler decreased their target price on Cisco Systems from $53.00 to $51.00 in a report on Thursday, May 18th. Deutsche Bank Aktiengesellschaft cut their price target on Cisco Systems from $55.00 to $54.00 in a report on Monday, May 22nd. Tigress Financial reiterated a “buy” rating and issued a $73.00 price objective on shares of Cisco Systems in a report on Friday, March 17th. Finally, StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.52.

Cisco Systems Company Profile

(Get Rating)

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.