Flagship Harbor Advisors LLC Purchases 1,204 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Flagship Harbor Advisors LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,346 shares of the network equipment provider’s stock after acquiring an additional 1,204 shares during the period. Flagship Harbor Advisors LLC’s holdings in Cisco Systems were worth $1,996,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Navigoe LLC bought a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its stake in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the 4th quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. bought a new position in Cisco Systems during the 4th quarter worth approximately $31,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSCO. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. New Street Research reiterated a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.11.

Cisco Systems Stock Performance

CSCO opened at $67.38 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $67.83. The firm has a market capitalization of $266.82 billion, a PE ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The business’s 50-day simple moving average is $61.58 and its 200 day simple moving average is $60.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at $2,419,921.53. This represents a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president now directly owns 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company’s stock.

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.