Bay Harbor Wealth Management LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)


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Bay Harbor Wealth Management LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 41.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,413 shares of the network equipment provider’s stock after selling 1,708 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Cisco Systems were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $1,835,000. Edgar Lomax Co. VA increased its holdings in Cisco Systems by 3.6% in the 3rd quarter. Edgar Lomax Co. VA now owns 1,659,973 shares of the network equipment provider’s stock worth $65,386,000 after acquiring an additional 57,050 shares in the last quarter. Doyle Wealth Management increased its holdings in Cisco Systems by 38.5% in the 4th quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after acquiring an additional 7,672 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Cisco Systems by 16.1% in the 4th quarter. IFM Investors Pty Ltd now owns 406,899 shares of the network equipment provider’s stock worth $18,209,000 after acquiring an additional 56,489 shares in the last quarter. Finally, Family Firm Inc. increased its holdings in Cisco Systems by 9.9% in the 4th quarter. Family Firm Inc. now owns 7,213 shares of the network equipment provider’s stock worth $328,000 after acquiring an additional 649 shares in the last quarter. 70.62% of the stock is owned by hedge funds and other institutional investors.

CSCO traded down $0.17 during trading on Tuesday, reaching $45.26. The company had a trading volume of 240 shares, compared to its average volume of 21,138,654. The stock has a market cap of $191.08 billion, a P/E ratio of 18.47, a PEG ratio of 2.54 and a beta of 0.95. The business has a 50 day simple moving average of $45.85 and a 200-day simple moving average of $42.51. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $49.34. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be paid a $0.37 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, April 5th. This represents a $1.48 dividend on an annualized basis and a yield of 3.27%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

In other Cisco Systems news, EVP Maria Martinez sold 6,000 shares of the stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $46.66, for a total value of $279,960.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 3,024 shares of the stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $142,763.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,530 shares of company stock worth $3,338,858. Insiders own 0.02% of the company’s stock.

Several equities research analysts recently issued reports on CSCO shares. Piper Sandler increased their target price on shares of Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Citigroup upped their price target on Cisco Systems from $45.00 to $50.00 in a research note on Wednesday, February 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Cisco Systems from $43.00 to $45.00 in a research note on Friday, November 13th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Friday, November 13th. Finally, Raymond James upped their price target on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. Sixteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.63.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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