Matthew Goff Investment Advisor LLC Has $6.23 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

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Matthew Goff Investment Advisor LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the second quarter, Holdings Channel.com reports. The firm owned 113,820 shares of the network equipment provider’s stock after selling 2,541 shares during the period. Cisco Systems comprises 2.7% of Matthew Goff Investment Advisor LLC’s holdings, making the stock its 14th largest holding. Matthew Goff Investment Advisor LLC’s holdings in Cisco Systems were worth $6,229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in shares of Cisco Systems by 4.4% during the 2nd quarter. Fisher Asset Management LLC now owns 29,677,761 shares of the network equipment provider’s stock valued at $1,624,264,000 after buying an additional 1,253,256 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cisco Systems by 4.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,269,461 shares of the network equipment provider’s stock worth $618,297,000 after buying an additional 616,591 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Cisco Systems by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 13,051,256 shares of the network equipment provider’s stock worth $565,511,000 after buying an additional 173,161 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Cisco Systems by 28.5% in the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Cisco Systems by 9.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 10,115,186 shares of the network equipment provider’s stock worth $553,606,000 after buying an additional 889,285 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Insiders sold 91,925 shares of company stock worth $4,976,706 over the last 90 days. Company insiders own 0.03% of the company’s stock.

NASDAQ:CSCO opened at $47.91 on Friday. The firm has a market cap of $205.18 billion, a P/E ratio of 16.81, a PEG ratio of 2.23 and a beta of 1.18. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $54.34 and its 200-day simple moving average is $53.77. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. Cisco Systems’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.92%. Cisco Systems’s dividend payout ratio is currently 49.12%.

Several equities analysts recently commented on the stock. Credit Suisse Group reduced their target price on shares of Cisco Systems from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Oppenheimer raised their target price on shares of Cisco Systems from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Cowen lowered their price target on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Morgan Stanley lowered their price target on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, UBS Group set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $56.59.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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