Indiana Trust & Investment Management Co Has $362,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Indiana Trust & Investment Management Co lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,793 shares of the network equipment provider’s stock after selling 1,797 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Cisco Systems were worth $362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in Cisco Systems during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP increased its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Retirement Group LLC increased its stake in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $1.65 during trading hours on Wednesday, reaching $55.73. 12,623,490 shares of the stock traded hands, compared to its average volume of 19,094,451. The company’s 50-day simple moving average is $50.51 and its two-hundred day simple moving average is $48.45. The company has a market capitalization of $224.53 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $55.74. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 in the last ninety days. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $62.00 in a report on Wednesday. Evercore ISI raised their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Finally, Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.74.

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.