Mayport LLC Has $440,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mayport LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 7,433 shares of the network equipment provider’s stock after selling 343 shares during the period. Mayport LLC’s holdings in Cisco Systems were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems in the 4th quarter worth about $26,000. Highline Wealth Partners LLC raised its position in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. Synergy Investment Management LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $36,000. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $49,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Cisco Systems stock opened at $63.48 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $61.32 and a 200-day moving average of $57.06. The firm has a market cap of $252.54 billion, a P/E ratio of 27.72, a P/E/G ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.58%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,848 shares of company stock worth $4,767,206 over the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CSCO shares. UBS Group boosted their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

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.