Mraz Amerine & Associates Inc. acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,806 shares of the network equipment provider's stock, valued at approximately $232,000.
Other institutional investors also recently modified their holdings of the company. Topsail Wealth Management LLC boosted its position in Cisco Systems by 18.2% during the first quarter. Topsail Wealth Management LLC now owns 6,643 shares of the network equipment provider's stock valued at $410,000 after acquiring an additional 1,025 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in Cisco Systems by 4.6% during the first quarter. Axxcess Wealth Management LLC now owns 122,336 shares of the network equipment provider's stock valued at $7,549,000 after acquiring an additional 5,427 shares during the last quarter. Slagle Financial LLC boosted its position in Cisco Systems by 3.1% during the first quarter. Slagle Financial LLC now owns 61,322 shares of the network equipment provider's stock valued at $3,784,000 after acquiring an additional 1,838 shares during the last quarter. Chemung Canal Trust Co. boosted its position in Cisco Systems by 193.3% during the first quarter. Chemung Canal Trust Co. now owns 55,115 shares of the network equipment provider's stock valued at $3,401,000 after acquiring an additional 36,322 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Cisco Systems by 50.9% during the first quarter. Cornerstone Planning Group LLC now owns 1,603 shares of the network equipment provider's stock valued at $99,000 after acquiring an additional 541 shares during the last quarter. Institutional investors own 73.33% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $69.53.
Check Out Our Latest Research Report on CSCO
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president owned 36,937 shares of the company's stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% 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 valued at $6,271,054 over the last three months. 0.01% of the stock is currently owned by corporate insiders.
Cisco Systems Trading Down 1.2%
Shares of NASDAQ CSCO traded down $0.81 during midday trading on Friday, hitting $67.95. 14,698,247 shares of the company traded hands, compared to its average volume of 20,360,928. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a 50-day moving average price of $65.02 and a 200 day moving average price of $61.82. The firm has a market cap of $269.08 billion, a P/E ratio of 27.73, a P/E/G ratio of 4.07 and a beta of 0.90.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.
Cisco Systems Company Profile
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Free Report)
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.
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