Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 34.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,461 shares of the network equipment provider's stock after selling 5,055 shares during the period. Safe Harbor Fiduciary LLC's holdings in Cisco Systems were worth $560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Second Line Capital LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $236,000. Sentinus LLC lifted its stake in Cisco Systems by 10.8% in the fourth quarter. Sentinus LLC now owns 5,220 shares of the network equipment provider's stock worth $309,000 after purchasing an additional 508 shares during the last quarter. Snowden Capital Advisors LLC boosted its position in shares of Cisco Systems by 2.8% during the fourth quarter. Snowden Capital Advisors LLC now owns 115,032 shares of the network equipment provider's stock valued at $6,810,000 after buying an additional 3,175 shares during the period. Security National Bank of SO Dak purchased a new position in Cisco Systems during the 4th quarter valued at $246,000. Finally, SGL Investment Advisors Inc. increased its stake in Cisco Systems by 6.8% in the fourth quarter. SGL Investment Advisors Inc. now owns 4,508 shares of the network equipment provider's stock worth $282,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the sale, the executive vice president now directly owns 200,191 shares of the company's stock, valued at $12,886,294.67. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,239 shares of company stock worth $2,181,437. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.34 during trading on Thursday, reaching $63.54. 6,430,394 shares of the company traded hands, compared to its average volume of 20,276,154. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $252.76 billion, a P/E ratio of 27.74, a PEG ratio of 4.16 and a beta of 0.89. The firm's fifty day simple moving average is $58.95 and its 200 day simple moving average is $59.83. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the firm earned $0.88 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSCO. Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Piper Sandler boosted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.00.

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.