Jmac Enterprises LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Jmac Enterprises LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,851 shares of the network equipment provider’s stock after selling 4,009 shares during the period. Jmac Enterprises LLC’s holdings in Cisco Systems were worth $1,590,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the third quarter worth about $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $49,000. Capital Performance Advisors LLP purchased a new position in shares of Cisco Systems during the third quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $56,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays lifted their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Stock Down 0.6 %

CSCO opened at $62.43 on Wednesday. The firm’s 50 day simple moving average is $59.78 and its two-hundred day simple moving average is $55.21. The company has a market capitalization of $248.64 billion, a PE ratio of 26.79, a PEG ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Company insiders own 0.01% 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 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.