Harbor Investment Advisory LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,554 shares of the network equipment provider’s stock after buying an additional 338 shares during the period. Harbor Investment Advisory LLC’s holdings in Cisco Systems were worth $1,536,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of CSCO. Voloridge Investment Management LLC bought a new position in Cisco Systems in the 3rd quarter worth $1,290,000. CHURCHILL MANAGEMENT Corp boosted its holdings in Cisco Systems by 3.7% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 234,446 shares of the network equipment provider’s stock worth $14,857,000 after buying an additional 8,432 shares during the period. Lynch & Associates IN boosted its holdings in Cisco Systems by 3.6% in the 4th quarter. Lynch & Associates IN now owns 157,644 shares of the network equipment provider’s stock worth $9,990,000 after buying an additional 5,499 shares during the period. Roberts Wealth Advisors LLC boosted its holdings in Cisco Systems by 0.5% in the 4th quarter. Roberts Wealth Advisors LLC now owns 77,476 shares of the network equipment provider’s stock worth $4,893,000 after buying an additional 382 shares during the period. Finally, Gradient Investments LLC raised its stake in Cisco Systems by 36.3% in the 4th quarter. Gradient Investments LLC now owns 6,504 shares of the network equipment provider’s stock worth $412,000 after purchasing an additional 1,731 shares in the last quarter. 73.18% of the stock is owned by institutional investors.
In other Cisco Systems news, SVP Prat Bhatt sold 607 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the transaction, the senior vice president now directly owns 79,855 shares in the company, valued at approximately $3,441,750.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 12,717 shares of the company’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total transaction of $556,877.43. Following the completion of the transaction, the chief executive officer now owns 651,577 shares in the company, valued at $28,532,556.83. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock worth $1,103,159 over the last 90 days. Insiders own 0.02% of the company’s stock.
Several analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Cowen decreased their price target on shares of Cisco Systems to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. UBS Group decreased their price target on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. Morgan Stanley decreased their price target on shares of Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 19th. Finally, The Goldman Sachs Group decreased their price target on shares of Cisco Systems from $64.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, May 20th. One equity research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $55.05.
Shares of CSCO stock opened at $42.64 on Friday. The stock has a 50 day moving average price of $46.21 and a 200 day moving average price of $53.16. Cisco Systems, Inc. has a 52-week low of $41.02 and a 52-week high of $64.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The firm has a market capitalization of $176.57 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.27 and a beta of 0.99.
Cisco Systems (NASDAQ: CSCO – Get Rating) last released its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be given a $0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.56%. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.
Cisco Systems Company Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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