Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,792 shares of the network equipment provider’s stock after selling 357 shares during the period. Granite Harbor Advisors Inc.’s holdings in Cisco Systems were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC grew its stake 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 buying an additional 309 shares during the period. Highline Wealth Partners LLC raised its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems in the fourth quarter worth approximately $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CSCO. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays upped their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $60.47 on Friday. The business’s 50-day moving average price is $59.34 and its 200 day moving average price is $54.35. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $240.84 billion, a P/E ratio of 25.95, a P/E/G ratio of 4.43 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm 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 company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems 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.