Meyer Handelman Co. Has $37.45 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Meyer Handelman Co. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 632,653 shares of the network equipment provider’s stock after purchasing an additional 5,627 shares during the period. Cisco Systems makes up about 1.3% of Meyer Handelman Co.’s holdings, making the stock its 21st biggest holding. Meyer Handelman Co.’s holdings in Cisco Systems were worth $37,453,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of CSCO. Founders Grove Wealth Partners LLC bought a new stake in Cisco Systems in the fourth quarter valued at approximately $372,000. Avity Investment Management Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at $213,000. Moseley Investment Management Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at $208,000. Laurel Wealth Advisors LLC increased its position in shares of Cisco Systems by 0.4% during the fourth quarter. Laurel Wealth Advisors LLC now owns 98,767 shares of the network equipment provider’s stock worth $5,847,000 after buying an additional 411 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Cisco Systems by 44.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 62,213 shares of the network equipment provider’s stock valued at $3,683,000 after acquiring an additional 19,112 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley lifted 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. Citigroup boosted their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 1.0 %

NASDAQ CSCO opened at $59.33 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $58.79 and a 200 day simple moving average of $53.34. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The firm has a market capitalization of $236.30 billion, a P/E ratio of 25.46, a PEG ratio of 4.37 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the firm earned $0.98 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.