Hartford Investment Management Co. Sells 6,942 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hartford Investment Management Co. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,191 shares of the network equipment provider’s stock after selling 6,942 shares during the period. Hartford Investment Management Co.’s holdings in Cisco Systems were worth $14,575,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $49,000. Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $51,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $56,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSCO. Citigroup upped their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Wells Fargo & Company upped 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 report on Thursday, November 14th. Barclays upped their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents 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 worth $20,349,721 over the last three months. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Down 0.6 %

CSCO opened at $62.43 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average of $59.78 and a 200-day moving average of $55.21. The stock has a market cap of $248.64 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84.

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

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. 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.