Flagship Harbor Advisors LLC Has $1.41 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Flagship Harbor Advisors LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 27,226 shares of the network equipment provider’s stock after selling 5,790 shares during the period. Flagship Harbor Advisors LLC’s holdings in Cisco Systems were worth $1,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. State Street Corp grew its stake in shares of Cisco Systems by 2.2% in the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after acquiring an additional 4,061,022 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cisco Systems by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 78,378,278 shares of the network equipment provider’s stock valued at $4,088,864,000 after buying an additional 1,641,294 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 70,960,104 shares of the network equipment provider’s stock valued at $3,674,524,000 after purchasing an additional 399,565 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after buying an additional 59,466,550 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $56.04 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $58.19. The firm has a 50 day moving average of $54.20 and a 200-day moving average of $51.17. The company has a market cap of $227.23 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.58 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.78%. Cisco Systems’s payout ratio is currently 50.81%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,158 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.15, for a total value of $119,013.70. Following the transaction, the executive vice president now directly owns 173,618 shares in the company, valued at approximately $9,575,032.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,158 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $55.15, for a total transaction of $119,013.70. Following the completion of the sale, the executive vice president now directly owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,438 shares of company stock valued at $2,948,779. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley boosted their target price on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 17th. BNP Paribas initiated coverage on Cisco Systems in a report on Thursday, July 20th. They set an “underperform” rating and a $45.00 price objective on the stock. Jefferies Financial Group upped their target price on Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a report on Thursday, August 17th. Bank of America lifted their price target on Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, September 13th. Finally, 51job reiterated an “initiates” rating on shares of Cisco Systems in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.43.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.