Harbour Investment Management LLC Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Harbour Investment Management LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 28.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,280 shares of the network equipment provider’s stock after selling 11,979 shares during the quarter. Harbour Investment Management LLC’s holdings in Cisco Systems were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BSW Wealth Partners increased its holdings in shares of Cisco Systems by 4.4% in the third quarter. BSW Wealth Partners now owns 6,879 shares of the network equipment provider’s stock valued at $366,000 after purchasing an additional 290 shares during the period. Minneapolis Portfolio Management Group LLC boosted its holdings in shares of Cisco Systems by 23.2% in the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 578,132 shares of the network equipment provider’s stock valued at $30,768,000 after acquiring an additional 109,025 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Cisco Systems by 3.6% in the third quarter. Van ECK Associates Corp now owns 1,179,202 shares of the network equipment provider’s stock worth $66,365,000 after acquiring an additional 40,791 shares during the period. Fort Pitt Capital Group LLC raised its holdings in shares of Cisco Systems by 3.9% during the third quarter. Fort Pitt Capital Group LLC now owns 82,628 shares of the network equipment provider’s stock worth $4,397,000 after purchasing an additional 3,109 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Cisco Systems by 0.5% during the third quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock valued at $2,491,000 after purchasing an additional 226 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 1.3 %

Shares of NASDAQ CSCO traded up $0.73 during trading on Friday, hitting $55.50. 19,235,612 shares of the company were exchanged, compared to its average volume of 15,590,850. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The company has a fifty day moving average price of $52.63 and a 200-day moving average price of $49.09. The firm has a market capitalization of $221.49 billion, a PE ratio of 21.85, a P/E/G ratio of 4.54 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CSCO shares. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Finally, Barclays cut their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $56.74.

Insider Activity

In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last quarter. 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.