Mutual of America Capital Management LLC Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Mutual of America Capital Management LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,038 shares of the network equipment provider's stock after selling 39,531 shares during the period. Mutual of America Capital Management LLC's holdings in Cisco Systems were worth $26,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Waypoint Capital Advisors LLC lifted its stake in shares of Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock valued at $346,000 after purchasing an additional 182 shares during the last quarter. Andina Capital Management LLC raised its holdings in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after buying an additional 182 shares during the period. Meridian Financial Partners LLC lifted its position in Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after buying an additional 185 shares during the last quarter. Gleason Group Inc. boosted its stake in Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider's stock worth $1,207,000 after buying an additional 193 shares during the period. Finally, Cassia Capital Partners LLC increased its position in shares of Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider's stock valued at $696,000 after acquiring an additional 195 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. This trade represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock worth $1,798,131 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CSCO shares. Tigress Financial increased their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday. Hsbc Global Res raised Cisco Systems to a "strong-buy" rating in a research report on Friday, August 16th. Finally, Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.42.

Cisco Systems Stock Down 0.8 %

Shares of NASDAQ:CSCO traded down $0.46 on Friday, hitting $57.46. 28,173,705 shares of the company's stock were exchanged, compared to its average volume of 18,249,024. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The company has a market capitalization of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88. The firm's 50-day moving average is $54.18 and its 200 day moving average is $49.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The firm's quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

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.