MAI Capital Management Has $43.14 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

MAI Capital Management lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 810,541 shares of the network equipment provider’s stock after selling 183,626 shares during the quarter. MAI Capital Management’s holdings in Cisco Systems were worth $43,137,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CSCO. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP grew its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC increased its holdings in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,924 shares of company stock valued at $1,798,131. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $57.46 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The business’s 50 day simple moving average is $54.18 and its 200 day simple moving average is $49.80. The stock has a market capitalization of $229.31 billion, a PE ratio of 24.66, a PEG ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities lifted their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Piper Sandler lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Evercore ISI increased their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

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.