Berkshire Bank Buys 402 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Berkshire Bank lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 74,284 shares of the network equipment provider’s stock after acquiring an additional 402 shares during the period. Cisco Systems comprises about 1.0% of Berkshire Bank’s holdings, making the stock its 25th biggest holding. Berkshire Bank’s holdings in Cisco Systems were worth $4,044,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Cisco Systems by 6.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 47,599,481 shares of the network equipment provider’s stock worth $2,522,774,000 after acquiring an additional 3,002,815 shares during the period. Lokken Investment Group LLC lifted its position in Cisco Systems by 7.4% during the second quarter. Lokken Investment Group LLC now owns 14,500 shares of the network equipment provider’s stock valued at $768,000 after buying an additional 999 shares during the period. Fiera Capital Corp purchased a new position in Cisco Systems during the second quarter valued at $1,557,000. Public Sector Pension Investment Board lifted its position in Cisco Systems by 59.2% during the second quarter. Public Sector Pension Investment Board now owns 660,620 shares of the network equipment provider’s stock valued at $35,013,000 after buying an additional 245,657 shares during the period. Finally, Eudaimonia Partners LLC lifted its position in Cisco Systems by 6.4% during the second quarter. Eudaimonia Partners LLC now owns 54,376 shares of the network equipment provider’s stock valued at $2,882,000 after buying an additional 3,291 shares during the period. Hedge funds and other institutional investors own 71.75% of the company’s stock.

In related news, SVP Prat Bhatt sold 12,722 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $54.80, for a total value of $697,165.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.02% of the company’s stock.

Shares of Cisco Systems stock traded up $0.24 on Thursday, hitting $55.54. The stock had a trading volume of 19,324,937 shares, compared to its average volume of 18,948,041. Cisco Systems, Inc. has a 52-week low of $42.21 and a 52-week high of $60.27. The company has a current ratio of 1.62, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. The stock has a market cap of $234.25 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.48 and a beta of 0.92. The company’s 50 day moving average price is $55.81 and its 200 day moving average price is $55.24.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the business earned $0.68 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 5th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, October 4th. Cisco Systems’s dividend payout ratio is currently 55.02%.

Several equities analysts have recently weighed in on CSCO shares. Robert W. Baird raised their price target on Cisco Systems from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, September 16th. JPMorgan Chase & Co. set a $70.00 price target on Cisco Systems in a research note on Thursday, September 16th. Wells Fargo & Company boosted their price target on Cisco Systems from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, September 9th. Barclays lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, August 19th. They noted that the move was a valuation call. Finally, Credit Suisse Group lowered their price target on Cisco Systems from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Thursday, November 18th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.24.

About Cisco Systems

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 product comprises of 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.

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

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