MV Capital Management Inc. Has $385,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

MV Capital Management Inc. raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,245 shares of the network equipment provider’s stock after purchasing an additional 1,004 shares during the quarter. MV Capital Management Inc.’s holdings in Cisco Systems were worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Cisco Systems during the 4th quarter worth approximately $3,297,905,000. FMR LLC boosted its holdings in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. bought a new position in Cisco Systems in the fourth quarter valued at $560,722,000. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems in the 4th quarter valued at $413,491,000. Finally, GAMMA Investing LLC lifted its position in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after buying an additional 6,625,045 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,573 shares of company stock valued at $4,392,619. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

CSCO opened at $65.15 on Wednesday. The firm has a market cap of $257.99 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The business’s fifty day moving average is $59.85 and its 200-day moving average is $60.46.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Finally, Citigroup upped their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

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.