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

Mutual of America Capital Management LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,448 shares of the network equipment provider’s stock after selling 18,590 shares during the period. Mutual of America Capital Management LLC’s holdings in Cisco Systems were worth $28,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. Swedbank AB lifted its holdings in Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Cisco Systems by 150.3% during the 3rd quarter. JFS Wealth Advisors LLC now owns 19,872 shares of the network equipment provider’s stock valued at $1,058,000 after purchasing an additional 11,934 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of Cisco Systems by 5.5% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 8,451 shares of the network equipment provider’s stock valued at $450,000 after buying an additional 442 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in Cisco Systems by 1.3% in the 3rd quarter. Financial Advocates Investment Management now owns 52,089 shares of the network equipment provider’s stock worth $2,772,000 after buying an additional 648 shares during the period. Finally, Reston Wealth Management LLC bought a new position in Cisco Systems in the 3rd quarter worth $115,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $64.14 on Friday. The business’s 50 day moving average price is $61.23 and its 200-day moving average price is $56.79. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a market cap of $255.15 billion, a P/E ratio of 28.01, a P/E/G ratio of 4.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, Bank of America raised their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Activity

In other news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,848 shares of company stock valued at $4,767,206. 0.01% of the stock is currently owned by insiders.

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.