Flagship Harbor Advisors LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Flagship Harbor Advisors LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,142 shares of the network equipment provider’s stock after selling 1,258 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Cisco Systems were worth $1,844,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CSCO. Pflug Koory LLC increased its position in shares of Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after purchasing an additional 165 shares during the last quarter. Beaumont Financial Advisors LLC increased its position in shares of Cisco Systems by 1.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock valued at $627,000 after acquiring an additional 173 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Cisco Systems by 0.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after acquiring an additional 178 shares during the period. Aviso Wealth Management lifted its holdings in shares of Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares during the last quarter. Finally, Waypoint Capital Advisors LLC boosted its position in shares of Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $62.23 on Monday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The company has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm’s fifty day moving average price is $59.22 and its 200 day moving average price is $54.09.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CSCO shares. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays increased their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares of the company’s stock, valued at $12,596,059. This trade represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 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.