Mengis Capital Management Inc. Has $373,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mengis Capital Management Inc. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,305 shares of the network equipment provider’s stock after purchasing an additional 314 shares during the period. Mengis Capital Management Inc.’s holdings in Cisco Systems were worth $373,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% during the 4th 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 during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter valued at about $40,000. Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,729 shares of company stock valued at $5,058,748 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.2 %

CSCO stock opened at $63.24 on Tuesday. The business has a fifty day moving average price of $60.75 and a 200 day moving average price of $56.42. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock has a market capitalization of $251.59 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 4.16 and a beta of 0.84. 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 (NASDAQ:CSCO) last released 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 net margin of 16.96% and a return on equity of 26.08%. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.59%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSCO. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays raised their price objective on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. raised their price objective on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

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.