Matrix Asset Advisors Inc. NY Purchases 386 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Matrix Asset Advisors Inc. NY lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the third quarter, Holdings Channel.com reports. The firm owned 574,239 shares of the network equipment provider’s stock after purchasing an additional 386 shares during the period. Cisco Systems accounts for 3.4% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 7th biggest position. Matrix Asset Advisors Inc. NY’s holdings in Cisco Systems were worth $30,561,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new stake in Cisco Systems in the 4th quarter valued at $84,000. Sunpointe LLC purchased a new stake in Cisco Systems in the 4th quarter valued at $283,000. Novak & Powell Financial Services Inc. purchased a new stake in Cisco Systems in the 4th quarter valued at $207,000. American Trust raised its position in Cisco Systems by 3.0% in the 4th quarter. American Trust now owns 7,854 shares of the network equipment provider’s stock valued at $397,000 after buying an additional 230 shares during the last quarter. Finally, Garde Capital Inc. raised its position in Cisco Systems by 13.9% in the 4th quarter. Garde Capital Inc. now owns 6,106 shares of the network equipment provider’s stock valued at $308,000 after buying an additional 746 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Barclays decreased their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.00.

Cisco Systems Stock Up 1.3 %

Shares of NASDAQ CSCO opened at $54.25 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $54.58. The business has a 50-day simple moving average of $50.14 and a two-hundred day simple moving average of $48.40. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $216.50 billion, a P/E ratio of 21.36, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping 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 business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.95%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. 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 worth $3,509,049 in the last quarter. 0.02% of the stock is owned by company insiders.

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.