Mraz Amerine & Associates Inc. Invests $232,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in Cisco Systems by 10.8% during the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after buying an additional 612 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of 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 buying an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 buying an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario increased its stake in shares of 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 buying an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. raised its position in Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after purchasing an additional 6,811 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CSCO shares. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup boosted 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. New Street Research restated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.43 on Thursday, reaching $68.85. 6,008,276 shares of the company traded hands, compared to its average volume of 20,341,625. The company has a 50 day moving average of $64.63 and a 200 day moving average of $61.68. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The firm has a market capitalization of $272.63 billion, a PE ratio of 28.10, a PEG ratio of 4.10 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 (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, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current 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 given 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 2.38%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling

In other news, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president directly owned 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. 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.