Matthew Goff Investment Advisor LLC Sells 691 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Matthew Goff Investment Advisor LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,952 shares of the network equipment provider’s stock after selling 691 shares during the quarter. Matthew Goff Investment Advisor LLC’s holdings in Cisco Systems were worth $4,390,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CSCO. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth $32,000. Delos Wealth Advisors LLC raised its stake in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $33,000. Morton Brown Family Wealth LLC boosted its position in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC grew its holdings in shares of 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 worth $36,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 over the last quarter. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CSCO. JPMorgan Chase & Co. started coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Monday, May 13th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.57 during midday trading on Friday, hitting $47.29. The company’s stock had a trading volume of 65,576,288 shares, compared to its average volume of 17,527,716. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a market cap of $190.52 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.71 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The company has a 50-day moving average price of $47.14 and a two-hundred day moving average price of $48.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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.