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

by · The Cerbat Gem

Mutual of America Capital Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 535,569 shares of the network equipment provider’s stock after selling 23,938 shares during the period. Mutual of America Capital Management LLC’s holdings in Cisco Systems were worth $25,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Gilbert & Cook Inc. raised its stake in Cisco Systems by 1.1% during the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after acquiring an additional 264 shares during the last quarter. Gryphon Financial Partners LLC increased its position in Cisco Systems by 104.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after purchasing an additional 11,767 shares during the period. Sachetta LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $306,000. CreativeOne Wealth LLC increased its position in Cisco Systems by 3.5% during the 4th quarter. CreativeOne Wealth LLC now owns 36,868 shares of the network equipment provider’s stock worth $1,863,000 after purchasing an additional 1,239 shares during the period. Finally, Nemes Rush Group LLC increased its position in Cisco Systems by 1.4% during the 4th quarter. Nemes Rush Group LLC now owns 222,050 shares of the network equipment provider’s stock worth $11,218,000 after purchasing an additional 3,156 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.8 %

Shares of Cisco Systems stock opened at $50.61 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $56.28. The firm has a market cap of $203.90 billion, a PE ratio of 17.04, a P/E/G ratio of 3.87 and a beta of 0.83. The business’s fifty day moving average is $48.25 and its two-hundred day moving average is $47.99. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on CSCO shares. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Rosenblatt Securities boosted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.89.

Get Our Latest Analysis on CSCO

About Cisco Systems

(Free Report)

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.

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