Harbor Capital Advisors Inc. Purchases 1,175 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Harbor Capital Advisors Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,984 shares of the network equipment provider’s stock after buying an additional 1,175 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cisco Systems were worth $2,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. FMR LLC lifted its position in shares of Cisco Systems by 10.1% during 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 last quarter. Two Sigma Advisers LP lifted its holdings in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after buying an additional 5,223,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.8 %

Shares of CSCO opened at $58.74 on Friday. The business’s 50 day simple moving average is $58.67 and its 200-day simple moving average is $53.14. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The company has a market capitalization of $233.95 billion, a P/E ratio of 25.21, a PEG ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Bank of America boosted their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $61.28.

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.