Matrix Asset Advisors Inc. NY Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Matrix Asset Advisors Inc. NY cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545,864 shares of the network equipment provider's stock after selling 28,375 shares during the quarter. Cisco Systems accounts for about 3.5% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 7th largest holding. Matrix Asset Advisors Inc. NY's holdings in Cisco Systems were worth $32,315,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CSCO. Pflug Koory LLC lifted its stake in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after buying an additional 165 shares during the period. Beaumont Financial Advisors LLC raised its position in shares of Cisco Systems by 1.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider's stock worth $627,000 after purchasing an additional 173 shares during the period. SeaCrest Wealth Management LLC raised its position in shares of Cisco Systems by 0.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider's stock worth $1,879,000 after purchasing an additional 178 shares during the period. Aviso Wealth Management raised its position in Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock valued at $405,000 after buying an additional 181 shares during the last quarter. Finally, Waypoint Capital Advisors LLC raised its position in 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 buying an additional 182 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company's stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Up 0.1 %

Shares of NASDAQ CSCO traded up $0.07 during trading on Friday, reaching $60.54. The company had a trading volume of 7,821,485 shares, compared to its average volume of 18,517,494. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company's fifty day moving average price is $59.40 and its 200-day moving average price is $54.39. The stock has a market cap of $241.10 billion, a P/E ratio of 26.01, a PEG ratio of 4.43 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.64%. Cisco Systems's payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America boosted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Citigroup lifted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a report on Friday, January 17th. Finally, BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $62.72.

About Cisco Systems

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.