MeadowBrook Investment Advisors LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

MeadowBrook Investment Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,964 shares of the network equipment provider’s stock after selling 1,115 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Cisco Systems were worth $800,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Navigoe LLC bought a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $31,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $68.59 on Wednesday. The stock has a market cap of $271.62 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 4.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a 50 day moving average price of $64.40 and a 200-day moving average price of $61.63. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the company earned $0.88 EPS. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSCO. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Wolfe Research began coverage on Cisco Systems in a research report on Tuesday. They set a “peer perform” rating for the company. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Rosenblatt Securities increased their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, KeyCorp began coverage on Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.53.

Insider Activity

In related news, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares of the company’s stock, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last three months. Corporate insiders own 0.01% of the company’s stock.

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.