Mraz Amerine & Associates Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,307 shares of the network equipment provider’s stock after selling 1,600 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Cisco Systems were worth $701,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Stonehearth Capital Management LLC purchased a new position in shares of Cisco Systems during the 4th quarter worth $102,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems during the 2nd quarter worth $104,000. Manchester Capital Management LLC grew its holdings in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares during the period. Goodman Financial Corp purchased a new position in shares of Cisco Systems during the 4th quarter worth $115,000. Finally, Ffcm LLC grew its holdings in shares of Cisco Systems by 2,025.0% during the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after purchasing an additional 3,564 shares during the period. Institutional investors own 77.55% of the company’s stock.
In other news, Director M Michele Burns sold 12,126 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the transaction, the director now owns 74,479 shares in the company, valued at approximately $3,379,112.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total value of $940,530.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,986 shares of company stock worth $2,116,422. Company insiders own 0.05% of the company’s stock.
A number of research firms have recently weighed in on CSCO. Citigroup increased their price target on Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, March 16th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.93 price target for the company in a report on Monday, March 19th. Argus reiterated a “buy” rating and set a $50.00 price target (up from $44.00) on shares of Cisco Systems in a report on Friday, February 16th. Piper Jaffray reiterated an “overweight” rating and set a $49.00 price target (up from $48.00) on shares of Cisco Systems in a report on Wednesday. Finally, MKM Partners increased their target price on Cisco Systems to $48.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.26.
CSCO opened at $44.56 on Friday. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.16. The stock has a market capitalization of $214,813.13, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.99 and a beta of 1.14. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.82 billion. During the same quarter in the prior year, the business posted $0.57 EPS. research analysts expect that Cisco Systems, Inc. will post 2.33 earnings per share for the current year.
Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is presently 61.40%.
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Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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