Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Tompkins Financial Corp

Tompkins Financial Corp increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,591 shares of the network equipment provider's stock after buying an additional 17,315 shares during the period. Cisco Systems accounts for about 1.4% of Tompkins Financial Corp's portfolio, making the stock its 18th largest position. Tompkins Financial Corp's holdings in Cisco Systems were worth $15,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Cisco Systems by 59.3% in 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 acquiring an additional 288,775 shares during the period. Morse Asset Management Inc bought a new stake in shares of Cisco Systems in the 3rd quarter valued at about $798,000. HighVista Strategies LLC purchased a new position in Cisco Systems during the third quarter valued at approximately $1,698,000. GAMMA Investing LLC raised its stake in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock worth $5,527,000 after buying an additional 10,813 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock worth $88,261,000 after buying an additional 162,544 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSCO. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. UBS Group increased their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Finally, Citigroup lifted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a "buy" rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.41 during midday trading on Friday, reaching $60.23. 23,800,968 shares of the stock were exchanged, compared to its average volume of 17,184,370. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. The firm has a 50-day simple moving average of $58.91 and a two-hundred day simple moving average of $53.52. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is currently owned by company insiders.

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.