Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Bar Harbor Wealth Management

Bar Harbor Wealth Management boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,399 shares of the network equipment provider’s stock after buying an additional 4,514 shares during the quarter. Bar Harbor Wealth Management’s holdings in Cisco Systems were worth $5,529,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. FMR LLC grew its stake in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after buying an additional 5,223,800 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CSCO. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup upped their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Bank of America boosted 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. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.28.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction 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 owns 213,834 shares in the company, valued at approximately $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 three months, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.11 during midday trading on Monday, reaching $58.85. The stock had a trading volume of 9,895,284 shares, compared to its average volume of 15,884,542. The stock has a market cap of $234.39 billion, a P/E ratio of 25.26, a P/E/G ratio of 4.37 and a beta of 0.84. 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 $60.23. The firm has a fifty day simple moving average of $58.67 and a two-hundred day simple moving average of $53.18.

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. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.