Meeder Asset Management Inc. Sells 1,073 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Meeder Asset Management Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 41.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,542 shares of the network equipment provider’s stock after selling 1,073 shares during the period. Meeder Asset Management Inc.’s holdings in Cisco Systems were worth $91,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new position in Cisco Systems during the 4th quarter valued at about $31,000. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth approximately $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last three months. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CSCO shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Morgan Stanley upped their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ:CSCO opened at $61.80 on Wednesday. The firm has a fifty day moving average price of $62.16 and a two-hundred day moving average price of $58.77. The company has a market cap of $245.86 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

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.