Mutual of America Capital Management LLC Sells 14,353 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mutual of America Capital Management LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 463,095 shares of the network equipment provider's stock after selling 14,353 shares during the quarter. Mutual of America Capital Management LLC's holdings in Cisco Systems were worth $28,578,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC raised its position in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. bought a new stake in Cisco Systems in the fourth quarter worth about $31,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.81 during trading hours on Friday, reaching $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 1-year low of $44.50 and a 1-year high of $69.78. The stock has a market cap of $269.08 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The stock's fifty day moving average is $65.02 and its 200 day moving average is $61.82. 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 (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CSCO. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. 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 report on Monday, June 16th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.53.

Insiders Place Their Bets

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last ninety days. 0.01% of the stock is currently owned by insiders.

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.