MTM Investment Management LLC Has $919,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

MTM Investment Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 47.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,517 shares of the network equipment provider’s stock after selling 13,826 shares during the quarter. MTM Investment Management LLC’s holdings in Cisco Systems were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. PrairieView Partners LLC increased its stake in shares of Cisco Systems by 19.5% in the fourth quarter. PrairieView Partners LLC now owns 3,994 shares of the network equipment provider’s stock worth $236,000 after acquiring an additional 651 shares during the last quarter. TFC Financial Management Inc. increased its position in Cisco Systems by 42.8% during the fourth quarter. TFC Financial Management Inc. now owns 4,676 shares of the network equipment provider’s stock worth $277,000 after buying an additional 1,402 shares during the last quarter. Stanley Laman Group Ltd. increased its position in Cisco Systems by 17.8% during the fourth quarter. Stanley Laman Group Ltd. now owns 11,417 shares of the network equipment provider’s stock worth $676,000 after buying an additional 1,722 shares during the last quarter. Hidden Cove Wealth Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $1,085,000. Finally, Naples Global Advisors LLC increased its position in Cisco Systems by 0.5% during the fourth quarter. Naples Global Advisors LLC now owns 145,117 shares of the network equipment provider’s stock worth $8,591,000 after buying an additional 739 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.2 %

Shares of NASDAQ CSCO opened at $62.53 on Thursday. The company’s fifty day moving average is $59.84 and its 200-day moving average is $55.31. The stock has a market cap of $249.04 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly 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 25.70% and a net margin of 17.73%. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on CSCO shares. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 in a research report on Thursday. Finally, Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.94.

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.