Mattern Capital Management LLC Sells 4,171 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mattern Capital Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,540 shares of the network equipment provider’s stock after selling 4,171 shares during the period. Cisco Systems accounts for 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Mattern Capital Management LLC’s holdings in Cisco Systems were worth $9,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% in 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 bought a new stake in Cisco Systems in the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems in the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC bought a new stake in Cisco Systems in the 3rd quarter valued at $56,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Down 0.3 %

NASDAQ:CSCO opened at $64.67 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $257.57 billion, a P/E ratio of 28.24, a P/E/G ratio of 4.16 and a beta of 0.84. The firm has a 50-day simple moving average of $60.55 and a 200-day simple moving average of $56.01.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 69.87%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,921 shares of company stock worth $4,298,667 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, February 14th. Morgan Stanley boosted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler lifted their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

About Cisco Systems

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.