Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,683 shares of the network equipment provider’s stock after selling 1,436 shares during the quarter. Mattern Wealth Management LLC’s holdings in Cisco Systems were worth $336,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IRON Financial LLC boosted its stake in Cisco Systems by 2.6% during the 4th quarter. IRON Financial LLC now owns 16,495 shares of the network equipment provider’s stock worth $977,000 after purchasing an additional 418 shares during the last quarter. Cascade Investment Advisors Inc. boosted its position in Cisco Systems by 0.9% during the fourth quarter. Cascade Investment Advisors Inc. now owns 40,608 shares of the network equipment provider’s stock worth $2,404,000 after acquiring an additional 360 shares during the last quarter. BankPlus Wealth Management LLC purchased a new stake in Cisco Systems during the 4th quarter valued at about $446,000. Northwest Financial Advisors raised its holdings in Cisco Systems by 10.5% in the 4th quarter. Northwest Financial Advisors now owns 4,313 shares of the network equipment provider’s stock valued at $255,000 after acquiring an additional 409 shares during the last quarter. Finally, Nilsine Partners LLC lifted its stake in Cisco Systems by 1.8% in the 4th quarter. Nilsine Partners LLC now owns 30,124 shares of the network equipment provider’s stock worth $1,783,000 after purchasing an additional 546 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $59.09 on Tuesday. The firm has a market cap of $235.35 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The firm’s fifty day moving average price is $59.22 and its 200 day moving average price is $54.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CSCO shares. Citigroup increased their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Morgan Stanley raised their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $55.00 to $66.00 in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last three months. Corporate insiders own 0.01% of the company’s stock.

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.