Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 839,621 shares of the network equipment provider's stock after buying an additional 35,664 shares during the period. Cisco Systems accounts for approximately 1.5% of Harvest Portfolios Group Inc.'s portfolio, making the stock its 27th largest holding. Harvest Portfolios Group Inc.'s holdings in Cisco Systems were worth $44,685,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth about $25,000. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP grew its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after buying an additional 456 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after acquiring an additional 766 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on CSCO shares. New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a "strong-buy" rating in a research report on Friday, August 16th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Barclays reduced their target price on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, August 15th. Finally, Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $56.74.

Cisco Systems Stock Performance

Cisco Systems stock traded up $1.71 during mid-day trading on Wednesday, reaching $57.87. The company's stock had a trading volume of 20,501,519 shares, compared to its average volume of 18,985,916. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.08. The business has a 50 day moving average price of $52.84 and a 200-day moving average price of $49.21. The firm has a market cap of $230.94 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business posted $1.01 EPS. The company's quarterly revenue was down 10.3% on a year-over-year basis. Sell-side analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Cisco Systems's payout ratio is currently 62.99%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares of the company's stock, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction on 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 of the company's stock, valued at $8,181,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. 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 70,529 shares of company stock valued at $3,509,049 over the last three months. Company insiders own 0.01% of the company's stock.

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.