Flagship Harbor Advisors LLC Has $1.12 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Flagship Harbor Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,288 shares of the network equipment provider’s stock after selling 308 shares during the period. Flagship Harbor Advisors LLC’s holdings in Cisco Systems were worth $1,121,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $2,492,430,000. Vanguard Group Inc. raised its holdings in Cisco Systems by 8.9% in the first quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after purchasing an additional 30,181,146 shares during the period. BlackRock Inc. raised its holdings in shares of Cisco Systems by 3.5% during the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after acquiring an additional 11,804,677 shares during the period. State Street Corp raised its holdings in shares of Cisco Systems by 3.2% during the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after acquiring an additional 5,730,165 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares during the period. 71.71% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $41.59 on Thursday. The firm has a 50 day moving average of $45.13 and a 200-day moving average of $47.62. The stock has a market capitalization of $170.89 billion, a PE ratio of 14.75, a PEG ratio of 2.11 and a beta of 0.96. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12 month low of $40.82 and a 12 month high of $64.29.

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

Cisco Systems Announces Dividend

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

Insider Buying and Selling

In other Cisco Systems news, SVP Prat Bhatt sold 3,453 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total transaction of $167,090.67. Following the sale, the senior vice president now directly owns 75,443 shares of the company’s stock, valued at approximately $3,650,686.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Prat Bhatt sold 3,453 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total transaction of $167,090.67. Following the sale, the senior vice president now directly owns 75,443 shares of the company’s stock, valued at approximately $3,650,686.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffery S. Sharritts sold 637 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total transaction of $28,467.53. Following the completion of the sale, the executive vice president now directly owns 166,370 shares in the company, valued at $7,435,075.30. The disclosure for this sale can be found here. Insiders sold a total of 56,317 shares of company stock worth $2,612,042 in the last three months. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CSCO. Morgan Stanley raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, August 18th. UBS Group raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Raymond James decreased their target price on shares of Cisco Systems from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, August 18th. Credit Suisse Group raised their target price on shares of Cisco Systems from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Finally, KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.10.

Cisco Systems Company 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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