MTM Investment Management LLC Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

MTM Investment Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 34,550 shares of the network equipment provider’s stock after buying an additional 2,202 shares during the period. Cisco Systems accounts for approximately 1.0% of MTM Investment Management LLC’s portfolio, making the stock its 25th largest position. MTM Investment Management LLC’s holdings in Cisco Systems were worth $2,189,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brooks Moore & Associates Inc. increased its position in Cisco Systems by 0.3% during the third quarter. Brooks Moore & Associates Inc. now owns 65,290 shares of the network equipment provider’s stock worth $3,554,000 after acquiring an additional 180 shares during the period. Woodmont Investment Counsel LLC increased its position in Cisco Systems by 0.4% during the fourth quarter. Woodmont Investment Counsel LLC now owns 41,425 shares of the network equipment provider’s stock worth $2,625,000 after acquiring an additional 180 shares during the period. Autus Asset Management LLC increased its position in Cisco Systems by 2.7% during the fourth quarter. Autus Asset Management LLC now owns 6,898 shares of the network equipment provider’s stock worth $437,000 after acquiring an additional 181 shares during the period. Pinnacle Bancorp Inc. increased its position in Cisco Systems by 1.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 19,212 shares of the network equipment provider’s stock worth $1,217,000 after acquiring an additional 183 shares during the period. Finally, Cranbrook Wealth Management LLC increased its position in Cisco Systems by 41.9% during the third quarter. Cranbrook Wealth Management LLC now owns 627 shares of the network equipment provider’s stock worth $34,000 after acquiring an additional 185 shares during the period. 71.94% of the stock is owned by institutional investors and hedge funds.

CSCO stock traded up $1.32 during mid-day trading on Thursday, hitting $50.63. The stock had a trading volume of 20,162,194 shares, compared to its average volume of 21,779,445. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 0.23. Cisco Systems, Inc. has a 52 week low of $49.21 and a 52 week high of $64.29. The firm has a market capitalization of $210.33 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.63 and a beta of 0.96. The firm has a fifty day simple moving average of $54.35 and a 200 day simple moving average of $56.43.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, February 16th. The network equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The firm had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.67 billion. During the same period last year, the firm earned $0.71 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.09 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase program on Wednesday, February 16th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 6th were paid a $0.38 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Tuesday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 54.29%.

In other news, CEO Charles Robbins sold 15,382 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total value of $828,474.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 3,623 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $56.40, for a total transaction of $204,337.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,605 shares of company stock worth $1,121,147. 0.02% of the stock is currently owned by corporate insiders.

CSCO has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Cisco Systems from $70.00 to $69.00 in a report on Thursday, January 20th. Loop Capital assumed coverage on shares of Cisco Systems in a research note on Monday, February 14th. They issued a “buy” rating and a $71.00 target price for the company. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, January 24th. StockNews.com assumed coverage on shares of Cisco Systems in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, Wells Fargo & Company downgraded shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research note on Thursday, March 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $62.44.

Cisco Systems Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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