Bangor Savings Bank Has $2.29 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Bangor Savings Bank reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,652 shares of the network equipment provider’s stock after selling 833 shares during the period. Bangor Savings Bank’s holdings in Cisco Systems were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the last quarter. Morse Asset Management Inc bought a new stake in Cisco Systems during the 3rd quarter worth $798,000. Citizens Financial Group Inc. RI increased its holdings in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares in the last quarter. HighVista Strategies LLC acquired a new stake in shares of Cisco Systems during the third quarter valued at about $1,698,000. Finally, GAMMA Investing LLC grew its holdings in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO opened at $58.77 on Tuesday. The company has a market cap of $234.07 billion, a PE ratio of 25.22, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The stock has a 50-day moving average of $58.38 and a 200-day moving average of $52.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the firm posted $0.98 EPS. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CSCO. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Morgan Stanley increased their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.95.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 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.