Meeder Advisory Services Inc. Has $4.52 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Meeder Advisory Services Inc. increased its holdings in Cisco Systems by 12.7% in the first quarter, now owning 73,251 shares valued at approximately $4.52 million.
• Cisco reported a Q2 earnings per share of $0.96, surpassing analysts' estimates of $0.92, with revenue reaching $14.15 billion.
• The company declared a quarterly dividend of $0.41 per share, resulting in an annualized dividend yield of 2.41%, with a payout ratio of 66.94%.

Meeder Advisory Services Inc. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,251 shares of the network equipment provider's stock after purchasing an additional 8,260 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Cisco Systems were worth $4,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CSCO. Kornitzer Capital Management Inc. KS raised its position in Cisco Systems by 0.7% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock worth $55,049,000 after purchasing an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Cisco Systems by 28.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after purchasing an additional 904,548 shares during the period. Investment Management Corp of Ontario boosted its stake in Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Cisco Systems by 2.6% during the 1st quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock worth $6,882,000 after buying an additional 2,839 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.87 during mid-day trading on Friday, reaching $67.21. The stock had a trading volume of 11,979,224 shares, compared to its average volume of 21,144,855. The stock has a 50-day simple moving average of $66.79 and a two-hundred day simple moving average of $62.66. The stock has a market capitalization of $266.14 billion, a PE ratio of 27.41, a P/E/G ratio of 4.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analysts Set New Price Targets

CSCO has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Evercore ISI reiterated an "in-line" rating and issued a $72.00 target price on shares of Cisco Systems in a research note on Monday. CICC Research began coverage on shares of Cisco Systems in a report on Monday, July 14th. They issued an "outperform" rating and a $78.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.35.

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.