Harbour Investment Management LLC Invests $2.22 Million in Cisco Systems, Inc. (CSCO) Stock

Harbour Investment Management LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, HoldingsChannel reports. The firm acquired 58,045 shares of the network equipment provider’s stock, valued at approximately $2,223,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its position in Cisco Systems by 0.4% in the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after purchasing an additional 10,265 shares during the last quarter. Forward Management LLC bought a new position in Cisco Systems in the 3rd quarter worth about $869,000. Rothschild Investment Corp IL grew its position in Cisco Systems by 1.9% in the 4th quarter. Rothschild Investment Corp IL now owns 297,112 shares of the network equipment provider’s stock worth $11,379,000 after purchasing an additional 5,517 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its position in Cisco Systems by 320.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 126,000 shares of the network equipment provider’s stock worth $4,825,000 after purchasing an additional 96,000 shares during the last quarter. Finally, Troy Asset Management Ltd grew its position in Cisco Systems by 15.0% in the 3rd quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock worth $3,943,000 after purchasing an additional 15,250 shares during the last quarter. Hedge funds and other institutional investors own 77.55% of the company’s stock.

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Shares of NASDAQ:CSCO opened at $43.30 on Tuesday. The company has a market cap of $207,153.28, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.88 and a beta of 1.14. Cisco Systems, Inc. has a 1-year low of $30.36 and a 1-year high of $46.16. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same quarter in the prior year, the firm earned $0.57 EPS. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.33 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is 61.40%.

Cisco Systems announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Several research analysts have commented on CSCO shares. Barclays upped their target price on shares of Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Vetr upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 target price for the company in a research report on Wednesday, December 27th. Argus restated a “buy” rating and issued a $50.00 target price (up previously from $44.00) on shares of Cisco Systems in a research report on Friday, February 16th. Finally, Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $38.99 to $46.00 in a research report on Friday, January 5th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average target price of $44.23.

In related news, Director M Michele Burns sold 12,126 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the sale, the director now owns 74,479 shares in the company, valued at approximately $3,379,112.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 14,189 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total transaction of $625,734.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,986 shares of company stock valued at $2,116,422. 0.05% of the stock is owned by insiders.

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Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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