Mattern Capital Management LLC Purchases 1,046 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mattern Capital Management LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 169,711 shares of the network equipment provider’s stock after buying an additional 1,046 shares during the quarter. Mattern Capital Management LLC’s holdings in Cisco Systems were worth $9,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares during the period. Valmark Advisers Inc. grew its stake in shares of Cisco Systems by 4.7% in the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after purchasing an additional 1,820 shares during the period. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Cisco Systems by 2.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock valued at $1,899,000 after purchasing an additional 889 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Barclays decreased their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Performance

CSCO stock opened at $55.74 on Friday. The business’s fifty day moving average is $52.12 and its 200-day moving average is $48.86. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $224.57 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% 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.