Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,563 shares of the network equipment provider’s stock after selling 11,932 shares during the period. Cisco Systems makes up 1.3% of Mach 1 Financial Group LLC’s investment portfolio, making the stock its 19th largest position. Mach 1 Financial Group LLC’s holdings in Cisco Systems were worth $3,514,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Cisco Systems by 1.1% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 42,080 shares of the network equipment provider’s stock worth $2,262,000 after acquiring an additional 463 shares in the last quarter. Moisand Fitzgerald Tamayo LLC increased its holdings in Cisco Systems by 67.6% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 1,666 shares of the network equipment provider’s stock worth $90,000 after purchasing an additional 672 shares during the period. Arthur M. Cohen & Associates LLC increased its holdings in Cisco Systems by 24.1% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 6,170 shares of the network equipment provider’s stock worth $332,000 after purchasing an additional 1,200 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in Cisco Systems by 7.0% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 14,865 shares of the network equipment provider’s stock worth $799,000 after purchasing an additional 967 shares during the period. Finally, Signet Investment Advisory Group Inc. increased its holdings in Cisco Systems by 0.5% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 66,204 shares of the network equipment provider’s stock worth $3,559,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CSCO. JPMorgan Chase & Co. began coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Piper Sandler increased their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Wells Fargo & Company began coverage on Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective on the stock. Finally, Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.80 during mid-day trading on Tuesday, hitting $46.98. The stock had a trading volume of 18,531,437 shares, compared to its average volume of 19,243,893. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a market cap of $190.23 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 2.76 and a beta of 0.87. The company has a 50 day simple moving average of $48.90 and a 200 day simple moving average of $49.92. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the business posted $0.76 EPS. Cisco Systems’s quarterly revenue was down 5.9% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

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.