Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Cisco Systems, Inc. by 13.9%, owning a total of 270,490 shares valued at approximately $16.68 million.
• A significant percentage of Cisco's stock, approximately 73.33%, is currently owned by hedge funds and institutional investors, indicating strong institutional interest.
• Analysts have varying views on Cisco, with a consensus rating of "Moderate Buy" and an average price target set at $70.35.

Harvest Fund Management Co. Ltd raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 270,490 shares of the network equipment provider's stock after buying an additional 32,926 shares during the quarter. Cisco Systems accounts for 0.8% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 20th largest holding. Harvest Fund Management Co. Ltd's holdings in Cisco Systems were worth $16,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the period. Fairway Wealth LLC grew its stake in shares of Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 400 shares during the period. Finally, Accredited Wealth Management LLC bought a new position in shares of Cisco Systems during the 4th quarter worth $37,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. CICC Research began coverage on Cisco Systems in a research note on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price for the company. Evercore ISI restated an "in-line" rating and issued a $72.00 target price on shares of Cisco Systems in a research note on Monday. KeyCorp began coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.35.

Cisco Systems Trading Down 1.4%

Shares of CSCO stock traded down $0.97 on Friday, reaching $67.11. 21,648,306 shares of the company's stock were exchanged, compared to its average volume of 21,221,861. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $265.76 billion, a PE ratio of 27.39, a P/E/G ratio of 4.08 and a beta of 0.90. The company's fifty day simple moving average is $66.79 and its 200 day simple moving average is $62.66.

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

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider owned 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last quarter. Company insiders own 0.01% of the company's stock.

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.