Harvest Fund Management Co. Ltd Buys 705 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Harvest Fund Management Co. Ltd boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,708 shares of the network equipment provider’s stock after buying an additional 705 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Cisco Systems were worth $1,799,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSCO. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems during the 3rd quarter valued at about $27,000. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $32,000. Morton Brown Family Wealth LLC grew its position in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.18 during trading hours on Tuesday, hitting $48.32. The stock had a trading volume of 16,239,196 shares, compared to its average volume of 19,471,814. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a 50-day moving average price of $49.01 and a 200 day moving average price of $50.13. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The firm has a market capitalization of $195.66 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.77 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 48.63%.

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.53.

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.