Mogy Joel R Investment Counsel Inc. Sells 6,166 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mogy Joel R Investment Counsel Inc. lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,806 shares of the network equipment provider’s stock after selling 6,166 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Cisco Systems were worth $8,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after buying an additional 1,790,717 shares during the last quarter. Northern Trust Corp raised its stake in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the last quarter. Invesco Ltd. raised its stake in Cisco Systems by 3.7% during the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after buying an additional 1,181,327 shares during the last quarter. California Public Employees Retirement System raised its stake in Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after buying an additional 3,753,165 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Cisco Systems by 3.7% during the third quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock worth $611,624,000 after buying an additional 405,699 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.5 %

Cisco Systems stock traded down $0.24 during midday trading on Friday, hitting $47.86. 14,658,910 shares of the stock were exchanged, compared to its average volume of 16,851,638. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The stock has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The business’s 50-day moving average price is $48.94 and its 200-day moving average price is $50.06. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.34%. Cisco Systems’s payout ratio is currently 48.63%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target for the company. Finally, UBS Group lifted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $55.53.

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.