Mraz Amerine & Associates Inc. Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Mraz Amerine & Associates Inc. purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,806 shares of the network equipment provider's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Cisco Systems during the fourth quarter valued at about $3,297,905,000. FMR LLC raised its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Cisco Systems in the 4th quarter valued at approximately $413,491,000. GAMMA Investing LLC raised its holdings in Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Cisco Systems by 187.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. New Street Research restated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Trading Down 1.2%

CSCO stock traded down $0.81 during trading on Friday, hitting $67.95. The company had a trading volume of 14,698,247 shares, compared to its average volume of 20,360,777. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $64.84 and a 200-day moving average price of $61.75. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The stock has a market cap of $269.08 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 4.14 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during 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 business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president directly owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Company 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.