Harbor Island Capital LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,404 shares of the network equipment provider’s stock after purchasing an additional 17,580 shares during the quarter. Cisco Systems makes up about 8.2% of Harbor Island Capital LLC’s investment portfolio, making the stock its 6th biggest position. Harbor Island Capital LLC’s holdings in Cisco Systems were worth $8,507,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its stake in shares of Cisco Systems by 0.6% during the 4th quarter. State Street Corp now owns 187,545,264 shares of the network equipment provider’s stock worth $8,994,671,000 after purchasing an additional 1,132,414 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cisco Systems by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 61,424,001 shares of the network equipment provider’s stock worth $2,940,106,000 after buying an additional 1,272,644 shares during the last quarter. Norges Bank acquired a new stake in shares of Cisco Systems during the 4th quarter worth $2,297,257,000. FMR LLC increased its holdings in shares of Cisco Systems by 13.1% during the 4th quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock worth $1,755,691,000 after buying an additional 4,244,954 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Cisco Systems by 3.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 23,480,734 shares of the network equipment provider’s stock worth $1,126,137,000 after buying an additional 743,907 shares during the last quarter. 72.22% of the stock is currently owned by institutional investors.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.17, for a total value of $2,881,900.00. Following the transaction, the chief financial officer now owns 308,241 shares of the company’s stock, valued at $12,690,281.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 3,910 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $46.53, for a total transaction of $181,932.30. The disclosure for this sale can be found here. Insiders sold 78,910 shares of company stock worth $3,296,482 in the last three months. 0.03% of the stock is currently owned by corporate insiders.
A number of analysts have recently commented on CSCO shares. Barclays restated a “buy” rating and set a $48.00 price objective on shares of Cisco Systems in a report on Friday, April 10th. Morgan Stanley dropped their price objective on Cisco Systems from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, March 19th. KeyCorp downgraded Cisco Systems from an “overweight” rating to a “sector weight” rating in a report on Friday, April 17th. Goldman Sachs Group reiterated a “hold” rating and issued a $48.00 price target on shares of Cisco Systems in a report on Thursday, February 13th. Finally, Nomura Securities lowered their price target on Cisco Systems from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average target price of $51.05.
NASDAQ CSCO remained flat at $$40.92 during trading hours on Monday. 3,701,948 shares of the company’s stock were exchanged, compared to its average volume of 21,743,692. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.75 and a current ratio of 1.81. The company has a 50 day moving average of $39.73 and a 200-day moving average of $44.60. Cisco Systems, Inc. has a 1 year low of $32.40 and a 1 year high of $58.26. The company has a market cap of $173.54 billion, a PE ratio of 15.98, a PEG ratio of 2.75 and a beta of 0.97.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. Cisco Systems had a net margin of 21.44% and a return on equity of 36.40%. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.98 billion. During the same quarter last year, the company posted $0.73 earnings per share. Cisco Systems’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were issued a $0.36 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 3.52%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. Cisco Systems’s dividend payout ratio (DPR) is currently 50.53%.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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