Harbour Investment Management LLC Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Harbour Investment Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,765 shares of the network equipment provider’s stock after selling 1,515 shares during the period. Harbour Investment Management LLC’s holdings in Cisco Systems were worth $1,703,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Swedbank AB lifted its holdings in Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares in the last quarter. Neumann Capital Management LLC lifted its holdings in Cisco Systems by 1.0% in the 3rd quarter. Neumann Capital Management LLC now owns 21,154 shares of the network equipment provider’s stock worth $1,126,000 after purchasing an additional 200 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Cisco Systems by 4.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,471,479 shares of the network equipment provider’s stock worth $78,311,000 after purchasing an additional 64,582 shares in the last quarter. First Business Financial Services Inc. lifted its holdings in Cisco Systems by 7.0% in the 3rd quarter. First Business Financial Services Inc. now owns 50,979 shares of the network equipment provider’s stock worth $2,713,000 after purchasing an additional 3,329 shares in the last quarter. Finally, BluePointe Capital Management LLC lifted its holdings in Cisco Systems by 4.0% in the 3rd quarter. BluePointe Capital Management LLC now owns 8,537 shares of the network equipment provider’s stock worth $454,000 after purchasing an additional 331 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

CSCO opened at $60.50 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $61.79 and its 200-day simple moving average is $57.70. The company has a market capitalization of $240.69 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on CSCO shares. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 in the last three months. 0.01% of the stock is owned by insiders.

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.