MFA Wealth Services Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

MFA Wealth Services trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,080 shares of the network equipment provider’s stock after selling 826 shares during the period. MFA Wealth Services’ holdings in Cisco Systems were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its position in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at $3,297,905,000. Northern Trust Corp lifted its holdings in Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Cisco Systems by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after acquiring an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 1.6%

Cisco Systems stock opened at $64.09 on Friday. The stock has a market cap of $253.80 billion, a PE ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88. The stock has a 50-day moving average price of $60.47 and a 200 day moving average price of $60.57. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CSCO. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities raised their target price on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider now owns 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by corporate 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.