Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lowered by MAI Capital Management

MAI Capital Management cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 810,541 shares of the network equipment provider's stock after selling 183,626 shares during the quarter. MAI Capital Management's holdings in Cisco Systems were worth $43,137,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems during the second quarter worth $25,000. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after buying an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC increased its position in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after buying an additional 766 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. New Street Research raised Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday. 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 report on Thursday, August 15th. Finally, Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.94.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 22,309 shares of the business's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares of the company's stock, valued at $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company's stock, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Down 0.3 %

Shares of CSCO traded down $0.15 during midday trading on Monday, reaching $57.31. 23,769,276 shares of the company were exchanged, compared to its average volume of 19,165,666. The stock has a 50-day moving average price of $54.35 and a 200-day moving average price of $49.88. The company has a market cap of $228.71 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is 68.67%.

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.