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

Flagship Harbor Advisors LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 27,226 shares of the network equipment provider’s stock after selling 5,790 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Cisco Systems were worth $1,409,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Steward Financial Group LLC acquired a new position in Cisco Systems during the fourth quarter worth about $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Cisco Systems during the first quarter worth $32,000. Fortis Capital Advisors LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $34,000. Carmel Capital Partners LLC purchased a new position in Cisco Systems in the 1st quarter worth about $35,000. Finally, Tucker Asset Management LLC acquired a new stake in Cisco Systems during the 1st quarter worth about $35,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 2,579 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the sale, the chief financial officer now owns 281,493 shares of the company’s stock, valued at approximately $14,257,620.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Maria Victoria Wong sold 6,186 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the transaction, the senior vice president now directly owns 64,493 shares of the company’s stock, valued at approximately $3,524,542.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total value of $130,626.35. Following the sale, the chief financial officer now directly owns 281,493 shares of the company’s stock, valued at $14,257,620.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,438 shares of company stock valued at $2,948,779. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $62.00 in a research report on Wednesday, July 19th. Evercore ISI upped their price target on Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. 51job reaffirmed an “initiates” rating on shares of Cisco Systems in a research note on Friday, June 30th. StockNews.com assumed coverage on shares of Cisco Systems in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Citigroup lifted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.43.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $56.04 on Monday. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $58.19. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $54.20 and a 200 day simple moving average of $51.17. The firm has a market capitalization of $227.23 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.49 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is currently 50.81%.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.