Harbour Investment Management LLC Has $1.61 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Harbour Investment Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,280 shares of the network equipment provider's stock after selling 11,979 shares during the quarter. Harbour Investment Management LLC's holdings in Cisco Systems were worth $1,612,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cisco Systems by 226.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider's stock valued at $1,319,000 after buying an additional 18,339 shares during the period. Magnolia Capital Advisors LLC lifted its holdings in shares of Cisco Systems by 14.5% in the first quarter. Magnolia Capital Advisors LLC now owns 30,429 shares of the network equipment provider's stock valued at $1,470,000 after buying an additional 3,861 shares during the period. FORA Capital LLC acquired a new stake in shares of Cisco Systems in the first quarter valued at $20,471,000. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 603.5% in the first quarter. Summit Financial Wealth Advisors LLC now owns 168,231 shares of the network equipment provider's stock valued at $8,396,000 after buying an additional 144,318 shares during the period. Finally, Farrow Financial Inc. lifted its holdings in shares of Cisco Systems by 6.0% in the first quarter. Farrow Financial Inc. now owns 39,353 shares of the network equipment provider's stock valued at $1,964,000 after buying an additional 2,218 shares during the period. Institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSCO shares. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Rosenblatt Securities upped their target price on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $53.00 to $55.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Citigroup raised Cisco Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.74.

Cisco Systems Stock Up 1.3 %

CSCO stock traded up $0.73 during mid-day trading on Friday, hitting $55.50. The stock had a trading volume of 19,235,612 shares, compared to its average volume of 15,590,850. 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 1-year low of $44.50 and a 1-year high of $57.06. The company has a fifty day moving average of $52.63 and a 200 day moving average of $49.10. The stock has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.54 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the firm posted $1.01 EPS. The business's revenue was down 10.3% compared to the same quarter last year. On average, equities analysts expect 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. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems's dividend payout ratio is 62.99%.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.01% of the company's stock.

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.