Everett Harris & Co. CA Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Everett Harris & Co. CA lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,883 shares of the network equipment provider’s stock after selling 186 shares during the period. Everett Harris & Co. CA’s holdings in Cisco Systems were worth $2,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. West Financial Advisors LLC grew its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Highline Wealth Partners LLC raised its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $49,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.60 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market capitalization of $241.36 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The company’s 50-day moving average is $59.40 and its 200 day moving average is $54.39.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. UBS Group upped their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Tuesday. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last three months. 0.01% of the stock is currently owned by company insiders.

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.