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

Jmac Enterprises LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,851 shares of the network equipment provider’s stock after selling 4,009 shares during the quarter. Jmac Enterprises LLC’s holdings in Cisco Systems were worth $1,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in shares of Cisco Systems by 57.7% during the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after acquiring an additional 1,876 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Cisco Systems during the 3rd quarter worth about $58,000. Fiduciary Alliance LLC boosted its stake in Cisco Systems by 14.8% in the 3rd quarter. Fiduciary Alliance LLC now owns 11,029 shares of the network equipment provider’s stock worth $587,000 after purchasing an additional 1,425 shares during the period. CX Institutional increased its position in shares of Cisco Systems by 30.4% during the third quarter. CX Institutional now owns 124,809 shares of the network equipment provider’s stock valued at $6,642,000 after buying an additional 29,117 shares during the period. Finally, Wesbanco Bank Inc. lifted its holdings in shares of Cisco Systems by 2.5% in the third quarter. Wesbanco Bank Inc. now owns 394,968 shares of the network equipment provider’s stock worth $21,020,000 after buying an additional 9,547 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $62.43 on Wednesday. The firm has a market cap of $248.64 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 4.63 and a beta of 0.84. The company has a 50-day simple moving average of $59.78 and a two-hundred day simple moving average of $55.21. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $63.25.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Citigroup increased their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

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.