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

Mattern Capital Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 165,540 shares of the network equipment provider's stock after selling 4,171 shares during the period. Cisco Systems comprises about 1.3% of Mattern Capital Management LLC's investment portfolio, making the stock its 23rd biggest holding. Mattern Capital Management LLC's holdings in Cisco Systems were worth $9,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $49,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 1.1 %

CSCO traded down $0.69 during trading on Friday, reaching $63.98. 18,884,987 shares of the company's stock were exchanged, compared to its average volume of 19,763,086. The company's fifty day moving average price is $60.55 and its 200-day moving average price is $56.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm has a market capitalization of $254.53 billion, a PE ratio of 27.94, a P/E/G ratio of 4.17 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. 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. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. Cisco Systems's payout ratio is currently 71.62%.

Cisco Systems announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CSCO shares. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday. Rosenblatt Securities upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and raised their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Morgan Stanley lifted 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. UBS Group lifted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Seven 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. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.53.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,921 shares of company stock worth $4,298,667 in the last ninety days. 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.