Safe Harbor Fiduciary LLC Sells 5,055 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Safe Harbor Fiduciary LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. FMR LLC raised its position in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp raised its holdings in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Cisco Systems by 12.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider’s stock worth $1,015,948,000 after purchasing an additional 1,943,563 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday. New Street Research reaffirmed a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler lifted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,635 shares of company stock valued at $931,901. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 1.0%

Shares of NASDAQ CSCO opened at $63.62 on Friday. 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 $253.10 billion, a PE ratio of 27.78, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $58.75 and a 200 day moving average of $59.66.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.05. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. During the same quarter last year, the firm earned $0.88 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.58%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.