Mitchell Mcleod Pugh & Williams Inc. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Mitchell Mcleod Pugh & Williams Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the network equipment provider’s stock after selling 1,280 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Cisco Systems were worth $2,061,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthspire Advisors LLC grew its holdings in Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after acquiring an additional 23,194 shares during the period. Roble Belko & Company Inc grew its holdings in Cisco Systems by 77.1% in the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after acquiring an additional 301 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $28,685,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research reports. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Barclays raised their price objective on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. began coverage on Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Up 0.2 %

Shares of CSCO stock traded up $0.11 on Monday, reaching $47.97. 2,325,054 shares of the company’s stock traded hands, compared to its average volume of 19,140,139. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The company has a market capitalization of $194.24 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87. The business’s 50 day moving average price is $48.94 and its two-hundred day moving average price is $50.01.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

Cisco Systems 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.