Washington Trust Bank lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,652 shares of the network equipment provider’s stock after purchasing an additional 1,498 shares during the period. Washington Trust Bank’s holdings in Cisco Systems were worth $1,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hoey Investments Inc. purchased a new position in shares of Cisco Systems in the second quarter worth approximately $26,000. Lion Street Advisors LLC purchased a new position in shares of Cisco Systems in the first quarter worth approximately $31,000. Bourgeon Capital Management LLC purchased a new position in shares of Cisco Systems in the first quarter worth approximately $32,000. Emerald Advisers LLC purchased a new position in shares of Cisco Systems in the second quarter worth approximately $38,000. Finally, Avondale Wealth Management increased its position in shares of Cisco Systems by 238.0% in the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock worth $39,000 after acquiring an additional 707 shares in the last quarter. 71.36% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday. UBS Group dropped their target price on shares of Cisco Systems from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. KeyCorp downgraded shares of Cisco Systems from an “overweight” rating to a “sector weight” rating in a research report on Friday, April 17th. MKM Partners boosted their price objective on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $41.00 price objective on shares of Cisco Systems in a research report on Monday, July 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.33.

NASDAQ:CSCO traded up $0.66 during trading hours on Friday, hitting $47.10. 17,706,367 shares of the company traded hands, compared to its average volume of 16,785,004. The stock has a market capitalization of $198.87 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 3.01 and a beta of 0.98. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $56.89. The firm has a 50-day moving average of $46.07 and a 200 day moving average of $44.16. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period in the prior year, the company earned $0.78 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.06%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s payout ratio is currently 50.53%.

In related news, CAO Prat Bhatt sold 5,703 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the completion of the transaction, the chief accounting officer now directly owns 85,613 shares in the company, valued at approximately $3,841,455.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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