Flagship Harbor Advisors LLC Sells 308 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Flagship Harbor Advisors LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,288 shares of the network equipment provider’s stock after selling 308 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Cisco Systems were worth $1,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Blair William & Co. IL boosted its stake in Cisco Systems by 25.3% in the 4th quarter. Blair William & Co. IL now owns 654,995 shares of the network equipment provider’s stock worth $41,507,000 after purchasing an additional 132,102 shares during the period. Clearstead Advisors LLC boosted its position in shares of Cisco Systems by 1.5% during the 4th quarter. Clearstead Advisors LLC now owns 159,488 shares of the network equipment provider’s stock valued at $10,107,000 after acquiring an additional 2,429 shares during the last quarter. Rowland & Co. Investment Counsel ADV bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $122,000. Summit Global Investments boosted its position in shares of Cisco Systems by 0.4% during the 4th quarter. Summit Global Investments now owns 100,243 shares of the network equipment provider’s stock valued at $6,352,000 after acquiring an additional 373 shares during the last quarter. Finally, HBK Investments L P bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $652,000. 71.71% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of CSCO stock opened at $41.59 on Thursday. Cisco Systems, Inc. has a 1-year low of $40.82 and a 1-year high of $64.29. The stock’s 50-day moving average is $45.13 and its 200 day moving average is $47.62. The company has a market cap of $170.89 billion, a P/E ratio of 14.75, a PEG ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s payout ratio is 53.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSCO. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $51.00 target price (down from $62.00) on shares of Cisco Systems in a research report on Thursday, July 14th. Piper Sandler increased their target price on Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Rosenblatt Securities increased their price target on Cisco Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. Raymond James decreased their price target on Cisco Systems from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, August 18th. Finally, UBS Group increased their price target on Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.10.

Insider Activity at Cisco Systems

In related news, EVP Jeffery S. Sharritts sold 12,838 shares of Cisco Systems stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $47.86, for a total transaction of $614,426.68. Following the completion of the transaction, the executive vice president now directly owns 167,532 shares in the company, valued at $8,018,081.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Charles Robbins sold 12,716 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total value of $599,432.24. Following the sale, the chief executive officer now directly owns 631,374 shares of the company’s stock, valued at $29,762,970.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffery S. Sharritts sold 12,838 shares of Cisco Systems stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $47.86, for a total value of $614,426.68. Following the completion of the sale, the executive vice president now directly owns 167,532 shares in the company, valued at $8,018,081.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,317 shares of company stock worth $2,612,042. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Profile

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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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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