Cisco Systems, Inc. (NASDAQ:CSCO) Position Trimmed by Harbor Advisory Corp MA

Harbor Advisory Corp MA trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,455 shares of the network equipment provider’s stock after selling 180 shares during the period. Harbor Advisory Corp MA’s holdings in Cisco Systems were worth $2,632,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC boosted its stake in Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares during the period. FMR LLC boosted its stake in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.6 %

Cisco Systems stock opened at $62.43 on Wednesday. The company has a market capitalization of $248.64 billion, a P/E ratio of 26.79, a P/E/G ratio of 4.63 and a beta of 0.84. The firm’s fifty day simple moving average is $59.78 and its 200-day simple moving average is $55.21. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSCO shares. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.72.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is currently owned by company insiders.

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.