ESG Planning DBA Harper Investing Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

ESG Planning DBA Harper Investing cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 32.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,353 shares of the network equipment provider's stock after selling 4,098 shares during the period. ESG Planning DBA Harper Investing's holdings in Cisco Systems were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $3,297,905,000. FMR LLC lifted its position in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Cisco Systems in the fourth quarter worth $413,491,000. GAMMA Investing LLC boosted its stake in Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after buying an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after acquiring an additional 4,880,747 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CSCO shares. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday. New Street Research reissued a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Wolfe Research started coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.95.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Down 0.9%

Shares of NASDAQ CSCO traded down $0.64 during midday trading on Tuesday, reaching $67.18. 13,927,629 shares of the company's stock traded hands, compared to its average volume of 21,105,902. The company has a market cap of $266.03 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 4.06 and a beta of 0.90. The stock's 50 day simple moving average is $65.19 and its 200-day simple moving average is $61.89. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.44%. Cisco Systems's dividend payout ratio is presently 66.94%.

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.