Harvest Fund Management Co. Ltd Acquires 50,841 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Harvest Fund Management Co. Ltd raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 27.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 237,564 shares of the network equipment provider's stock after buying an additional 50,841 shares during the period. Cisco Systems comprises about 0.6% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 25th biggest holding. Harvest Fund Management Co. Ltd's holdings in Cisco Systems were worth $14,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. FPC Investment Advisory Inc. purchased a new position in Cisco Systems in the fourth quarter valued at about $26,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after buying an additional 260 shares during the last quarter. Synergy Investment Management LLC bought a new position in Cisco Systems during the fourth quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the third quarter valued at approximately $40,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CSCO shares. Citigroup restated an "overweight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler reissued a "neutral" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.63.

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Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

CSCO traded down $0.32 on Friday, hitting $60.30. 65,885,624 shares of the stock traded hands, compared to its average volume of 18,008,743. The business has a fifty day moving average price of $61.95 and a two-hundred day moving average price of $58.11. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $239.89 billion, a PE ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

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

Cisco Systems declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.