Iowa State Bank Has $8.78 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Iowa State Bank cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 148,353 shares of the network equipment provider’s stock after selling 486 shares during the quarter. Cisco Systems comprises approximately 1.8% of Iowa State Bank’s investment portfolio, making the stock its 17th largest holding. Iowa State Bank’s holdings in Cisco Systems were worth $8,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Quarry LP grew its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth about $40,000. Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems in the 3rd quarter valued at about $51,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Cisco Systems during the 3rd quarter valued at about $56,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.16 on Monday, reaching $59.02. 7,867,098 shares of the company’s stock traded hands, compared to its average volume of 14,192,501. The stock’s 50 day simple moving average is $58.31 and its two-hundred day simple moving average is $52.76. The stock has a market cap of $235.06 billion, a PE ratio of 25.33, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its 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. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.71%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Bank of America boosted their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.95.

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.