Patrick Mauro Investment Advisor INC. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,436 shares of the network equipment provider's stock after selling 60,514 shares during the period. Cisco Systems makes up approximately 3.1% of Patrick Mauro Investment Advisor INC.'s portfolio, making the stock its 13th largest position. Patrick Mauro Investment Advisor INC.'s holdings in Cisco Systems were worth $5,472,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Navigoe LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,431 shares of company stock valued at $1,421,356. Corporate insiders own 0.01% of the company's stock.
Cisco Systems Price Performance
NASDAQ:CSCO traded down $0.25 on Monday, reaching $63.11. 15,644,520 shares of the company's stock traded hands, compared to its average volume of 20,334,237. The stock has a 50-day simple moving average of $59.05 and a 200-day simple moving average of $59.96. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm has a market cap of $249.92 billion, a PE ratio of 27.56, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its 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 return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the company earned $0.88 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.
Cisco Systems Dividend Announcement
The business 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 dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.60%. Cisco Systems's dividend payout ratio is 66.94%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price target 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 investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.
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About Cisco Systems
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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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