Indiana Trust & Investment Management CO Has $395,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Indiana Trust & Investment Management CO boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,912 shares of the network equipment provider’s stock after purchasing an additional 348 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Cisco Systems were worth $395,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth $2,528,939,000. Wellington Management Group LLP lifted its position in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares in the last quarter. First Trust Advisors LP increased its holdings in Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after purchasing an additional 2,723,260 shares in the last quarter. Finally, FIL Ltd raised its stake in shares of Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after purchasing an additional 6,054,748 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup initiated coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Oppenheimer increased their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Price Performance

CSCO stock traded up $0.06 during midday trading on Friday, reaching $47.51. The company had a trading volume of 23,001,225 shares, compared to its average volume of 19,756,715. The company has a market capitalization of $191.41 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 2.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The stock has a 50 day moving average price of $47.09 and a 200-day moving average price of $48.82.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

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.