Massachusetts Financial Services Co. MA Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 501,153 shares of the network equipment provider's stock after purchasing an additional 60,984 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Cisco Systems were worth $30,926,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after purchasing an additional 612 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after acquiring an additional 904,548 shares during the period. Investment Management Corp of Ontario boosted its stake in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares during the period. Finally, AlTi Global Inc. boosted its stake in Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after acquiring an additional 6,811 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.25 during mid-day trading on Friday, hitting $68.05. 16,138,141 shares of the stock were exchanged, compared to its average volume of 20,303,674. The company has a market cap of $269.48 billion, a P/E ratio of 27.78, a PEG ratio of 4.07 and a beta of 0.90. The stock's fifty day simple moving average is $65.84 and its two-hundred day simple moving average is $62.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.41%. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares of the company's stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSCO. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Wolfe Research initiated coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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.