Matrix Asset Advisors Inc. NY Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Matrix Asset Advisors Inc. NY lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 545,864 shares of the network equipment provider’s stock after selling 28,375 shares during the period. Cisco Systems accounts for about 3.5% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 7th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Cisco Systems were worth $32,315,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC lifted its position in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSCO. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group lifted their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Stock Down 5.0 %

Shares of NASDAQ CSCO opened at $59.09 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm has a 50-day simple moving average of $59.22 and a two-hundred day simple moving average of $54.14. The company has a market cap of $235.35 billion, a P/E ratio of 25.36, a PEG ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last 90 days. Company insiders own 0.01% of the company’s stock.

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.