Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 49,491 shares of the network equipment provider’s stock after buying an additional 1,506 shares during the quarter. Harbour Investments Inc.’s holdings in Cisco Systems were worth $2,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CSCO. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $31,000. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley increased 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. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased 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. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Trading Up 1.4 %

Shares of NASDAQ:CSCO opened at $60.50 on Monday. The company has a market cap of $240.69 billion, a P/E ratio of 26.42, a P/E/G ratio of 4.16 and a beta of 0.79. The stock’s 50-day moving average is $61.79 and its 200-day moving average is $57.80. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

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

Cisco Systems Increases Dividend

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

Cisco Systems declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Cisco Systems

In related news, 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 in the company, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.