Harfst & Associates Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 12.0% during the 1st quarter, Holdings Channel reports. The firm owned 6,413 shares of the network equipment provider’s stock after selling 878 shares during the quarter. Harfst & Associates Inc.’s holdings in Cisco Systems were worth $396,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Legacy Financial Group Inc. raised its stake in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after buying an additional 169 shares during the last quarter. Capital Advantage Inc. raised its stake in shares of Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after buying an additional 172 shares during the last quarter. Avalon Trust Co raised its stake in shares of Cisco Systems by 5.4% during the first quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider’s stock worth $212,000 after buying an additional 177 shares during the last quarter. Rossmore Private Capital raised its stake in shares of Cisco Systems by 0.3% during the first quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider’s stock worth $4,272,000 after buying an additional 181 shares during the last quarter. Finally, Hemington Wealth Management raised its stake in shares of Cisco Systems by 4.1% during the first quarter. Hemington Wealth Management now owns 4,803 shares of the network equipment provider’s stock worth $296,000 after buying an additional 189 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.
Insiders Place Their Bets
In related news, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer directly owned 688,409 shares of the company’s stock, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last ninety days. 0.01% of the stock is currently owned by insiders.
Cisco Systems Price Performance
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.67 billion during the quarter, compared to analysts’ expectations of $14.63 billion. During the same period last year, the business earned $0.87 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. Cisco Systems’s dividend payout ratio is presently 66.94%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on CSCO shares. UBS Group boosted their price target on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Evercore ISI reiterated an “in-line” rating and issued a $72.00 price target on shares of Cisco Systems in a research report on Monday, July 28th. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Morgan Stanley increased their price target on shares of Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.55.
Check Out Our Latest Stock Analysis on CSCO
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.
Featured Stories
- Five stocks we like better than Cisco Systems
- Financial Services Stocks Investing
- Tesla’s Pennant Just Snapped: Here’s What It Means for the Stock
- How Can Investors Benefit From After-Hours Trading
- 3 Companies That Will Profit From Trump’s Semiconductor Tariffs
- What is the Hang Seng index?
- 3 Earnings Reports Give a Snapshot of Consumer Sentiment
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Free Report).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.