Mattern Wealth Management LLC Acquires 2,814 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mattern Wealth Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,578 shares of the network equipment provider’s stock after acquiring an additional 2,814 shares during the period. Mattern Wealth Management LLC’s holdings in Cisco Systems were worth $1,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Main Street Research LLC increased its stake in shares of Cisco Systems by 26.2% in the second quarter. Main Street Research LLC now owns 32,000 shares of the network equipment provider’s stock worth $1,492,000 after purchasing an additional 6,634 shares in the last quarter. Silicon Hills Wealth Management LLC purchased a new stake in shares of Cisco Systems in the second quarter worth $366,000. Pacer Advisors Inc. increased its stake in shares of Cisco Systems by 72.2% in the second quarter. Pacer Advisors Inc. now owns 779,434 shares of the network equipment provider’s stock worth $36,353,000 after purchasing an additional 326,678 shares in the last quarter. Lucia Wealth Services LLC increased its stake in shares of Cisco Systems by 35.1% in the second quarter. Lucia Wealth Services LLC now owns 5,009 shares of the network equipment provider’s stock worth $234,000 after purchasing an additional 1,302 shares in the last quarter. Finally, V Wealth Advisors LLC increased its stake in shares of Cisco Systems by 18.9% in the second quarter. V Wealth Advisors LLC now owns 70,443 shares of the network equipment provider’s stock worth $3,285,000 after purchasing an additional 11,203 shares in the last quarter. Institutional investors and hedge funds own 71.36% of the company’s stock.

NASDAQ:CSCO opened at $47.10 on Friday. The company has a market capitalization of $196.08 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $56.89. The stock has a fifty day simple moving average of $46.07 and a 200-day simple moving average of $44.16.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.10. The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s payout ratio is currently 50.53%.

CSCO has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Cisco Systems from an “overweight” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Thursday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. Citigroup raised their target price on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Nomura raised their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, MKM Partners raised their target price on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.33.

In related news, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $44.87, for a total transaction of $255,893.61. Following the transaction, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company’s stock.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: Float

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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