Mach 1 Financial Group LLC Has $3.51 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

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

Other institutional investors have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cisco Systems in the 3rd quarter worth $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth $32,000. Morton Brown Family Wealth LLC grew its stake in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares in the last quarter. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. Finally, Rakuten Securities Inc. bought a new position in Cisco Systems during the fourth quarter valued at about $43,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CSCO. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a report on Monday, April 15th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective on the stock. Piper Sandler upped their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Wells Fargo & Company started coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price on the stock. Finally, Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Down 1.7 %

Cisco Systems stock traded down $0.80 on Tuesday, hitting $46.98. 18,531,437 shares of the stock traded hands, compared to its average volume of 19,243,893. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The firm has a market cap of $190.23 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87. The business’s fifty day simple moving average is $48.90 and its 200 day simple moving average is $49.92. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.41%. Cisco Systems’s payout ratio is 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by insiders.

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 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.