Mengis Capital Management Inc. Has $319,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mengis Capital Management Inc. reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the third quarter, HoldingsChannel reports. The firm owned 5,991 shares of the network equipment provider’s stock after selling 300 shares during the period. Mengis Capital Management Inc.’s holdings in Cisco Systems were worth $319,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $840,538,000. Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares in the last quarter. Natixis grew its holdings in shares of Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after buying an additional 4,010,228 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $58.71 on Wednesday. The firm’s 50 day simple moving average is $53.64 and its 200 day simple moving average is $49.57. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The firm has a market capitalization of $234.30 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSCO. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.32.

Cisco Systems Company 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.