Cisco Systems, Inc. (NASDAQ:CSCO) Position Lessened by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 83.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,397 shares of the network equipment provider’s stock after selling 57,522 shares during the period. Meeder Asset Management Inc.’s holdings in Cisco Systems were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its position in shares of Cisco Systems by 0.3% during the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares during the last quarter. Hyman Charles D grew its position in Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after acquiring an additional 203 shares during the last quarter. Madrona Financial Services LLC lifted its holdings in Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after buying an additional 207 shares in the last quarter. Morton Brown Family Wealth LLC lifted its stake in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Finally, Baker Boyer National Bank lifted its stake in shares of Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.8 %

Shares of CSCO traded up $0.40 on Tuesday, hitting $47.80. 2,877,312 shares of the stock traded hands, compared to its average volume of 19,447,688. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The business has a 50 day simple moving average of $46.90 and a 200 day simple moving average of $48.54. The company has a market capitalization of $192.58 billion, a PE ratio of 16.11, a P/E/G ratio of 2.74 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Morgan Stanley began coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Citigroup assumed coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, Oppenheimer boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.47.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 in the last 90 days. 0.02% of the stock is currently owned by insiders.

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.