Marble Harbor Investment Counsel LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 457,635 shares of the network equipment provider’s stock after purchasing an additional 14,418 shares during the period. Cisco Systems comprises 3.5% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 6th biggest position. Marble Harbor Investment Counsel LLC’s holdings in Cisco Systems were worth $21,948,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Emerald Advisers LLC purchased a new position in Cisco Systems during the fourth quarter worth approximately $38,000. Sageworth Trust Co increased its stake in shares of Cisco Systems by 59.5% in the 4th quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Cordasco Financial Network increased its stake in shares of Cisco Systems by 78.4% in the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after acquiring an additional 502 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Cisco Systems by 21.1% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock worth $75,000 after acquiring an additional 258,073 shares during the period. Finally, Birch Capital Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 72.57% of the company’s stock.
In other Cisco Systems news, CAO Prat Bhatt sold 39,343 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total value of $1,765,713.84. Following the completion of the transaction, the chief accounting officer now owns 137,634 shares of the company’s stock, valued at approximately $6,177,013.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Irving Tan sold 28,093 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.36, for a total transaction of $1,274,298.48. Following the completion of the transaction, the executive vice president now directly owns 151,587 shares of the company’s stock, valued at approximately $6,875,986.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 388,864 shares of company stock valued at $17,474,321. 0.03% of the stock is currently owned by corporate insiders.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Analysts anticipate that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.07%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.
A number of brokerages recently issued reports on CSCO. Bank of America lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. William Blair reiterated a “market perform” rating on shares of Cisco Systems in a report on Thursday. Robert W. Baird reissued a “buy” rating and issued a $55.00 price target (up previously from $52.00) on shares of Cisco Systems in a research note on Thursday. Barclays upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, December 19th. Finally, Credit Suisse Group reduced their price target on shares of Cisco Systems from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday. Thirteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $54.28.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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