Haverford Trust Co Has $70.92 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Haverford Trust Co lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,197,915 shares of the network equipment provider’s stock after selling 8,385 shares during the quarter. Haverford Trust Co’s holdings in Cisco Systems were worth $70,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pflug Koory LLC boosted its position in shares of Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after acquiring an additional 165 shares during the last quarter. Fairhaven Wealth Management LLC increased its stake in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC boosted its holdings in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares during the period. Maple Capital Management Inc. boosted its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after buying an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC boosted its holdings in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.30 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.79 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 $66.50. The company has a market cap of $239.89 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The stock has a 50 day simple moving average of $61.95 and a 200-day simple moving average of $58.17.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 71.62%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSCO. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Company 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.